The hourly money flow has turned down quickly ... I don't know if I like the hourly setup thus far with the price indicator (green line) making a bottom here quickly. This is not to say things can't stay oversold ... they can.
The daily chart shows the money flow rolling over and heading down now. The question is how long with this last ... I do think the next time we see the money flow (blue line) bottom along with the price indicator (green line) this will be a time to buy. Today we had a 72% up volume day for the NYSE and negative money flow for the broader market.
The hourly money flow has turned down quickly ... I don't know if I like the hourly setup thus far with the price indicator (green line) making a bottom here quickly. This is not to say things can't stay oversold ... they can.
The daily chart shows the money flow rolling over and heading down now. The question is how long with this last ... I do think the next time we see the money flow (blue line) bottom along with the price indicator (green line) this will be a time to buy. Today we had a 72% up volume day for the NYSE and negative money flow for the broader market.
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