Money flow is back a the bottom of the cycle ... we should see some strength to come when the outflow is finished in the short term.
The daily Dow chart shows money flow has bottomed and big money agrees ... there was a ton of buying the
ETF indexes today ... we had over $400 million inflow into SPY which measures the S&P 500. We did have an overall outflow of cash today in the broader market (see the above hourly chart) and we had a 65% down volume today on the NYSE.
Here is a snapshot of the dollar moving up. Short-term it looks overbought based solely on the indicators.
You can see the havoc the dollar has reaped on gold. I would have thought the same would have been done for equities ... that has not been the case ... so I must wonder out loud ... Equities may have another big move left that could occur over a longer period ahead of us.
Money flow is back a the bottom of the cycle ... we should see some strength to come when the outflow is finished in the short term.
The daily Dow chart shows money flow has bottomed and big money agrees ... there was a ton of buying the ETF indexes today ... we had over $400 million inflow into SPY which measures the S&P 500. We did have an overall outflow of cash today in the broader market (see the above hourly chart) and we had a 65% down volume today on the NYSE.
Here is a snapshot of the dollar moving up. Short-term it looks overbought based solely on the indicators.
You can see the havoc the dollar has reaped on gold. I would have thought the same would have been done for equities ... that has not been the case ... so I must wonder out loud ... Equities may have another big move left that could occur over a longer period ahead of us.
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