Money flow indicator has bottomed on the hourly chart for the Dow. This does not mean the index will automatically move up from here ... just that it has bottomed on the modified ... the actual is still hanging around the mid point of the cycle. The green line for price is about to roll over ... I think we will need a couple more money flow cycles up and down before we can think of the market truly rolling over somewhat.
Money flow for the daily Dow is just above the mid point. Could be another week +/- a day or two before we see some kind of topping. Today was a 65% up volume day for the NYSE and we did see a positive inflow of cash.
The real question is ... what is the dollar going to do ... and when?
Money flow indicator has bottomed on the hourly chart for the Dow. This does not mean the index will automatically move up from here ... just that it has bottomed on the modified ... the actual is still hanging around the mid point of the cycle. The green line for price is about to roll over ... I think we will need a couple more money flow cycles up and down before we can think of the market truly rolling over somewhat.
Money flow for the daily Dow is just above the mid point. Could be another week +/- a day or two before we see some kind of topping. Today was a 65% up volume day for the NYSE and we did see a positive inflow of cash.
The real question is ... what is the dollar going to do ... and when?
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I am curious about the dollar as well. It seems with all the bailouts and stimulus packages the dollar has been uncertain.
ReplyDeleteI am bookmarking this page, thanks for the useful information. Keep it going, keep me informed.
Thanks. Let me know if you have any question later on.
ReplyDeleteJeff