Near term for the Dow hourly chart we are overbought. Money flow indicator has rolled over and the two lower indexes that measure price on the shorter term have topped. The downside may be limited due to the fact that the Dow daily chart is showing the money flow is close to a bottom. This is not to say that we will not or could not see some type of real weakness in the near term.
Money flow (blue line with price) is close to a bottom. Today on the NYSE we had a 62% up volume day with money inflow for the broader market. The two bottom short term indicators point to a bottom in price of some type could be close at hand.
Near term for the Dow hourly chart we are overbought. Money flow indicator has rolled over and the two lower indexes that measure price on the shorter term have topped. The downside may be limited due to the fact that the Dow daily chart is showing the money flow is close to a bottom. This is not to say that we will not or could not see some type of real weakness in the near term.
Money flow (blue line with price) is close to a bottom. Today on the NYSE we had a 62% up volume day with money inflow for the broader market. The two bottom short term indicators point to a bottom in price of some type could be close at hand.
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