The actual money flow has turned back up and the green line price indicator is still pointed up on the hourly chart. However, all other indicators are looking very overbought or have topped and moving lower (including the tick data).
We did have an accumulation day for the Dow on the daily chart. The NYSE had a 65% up volume day and the broader had a cash inflow of over $2 billion. Basically all the indicators are nuetral here ... the market could go either way here ... in my opinion its still going to come down to the dollar.
The dollar made a new short term low today. If this keeps up ... gold and equities will march higher in the new term. This is really going to be interesting here if this breaks down ... will we have a currency crisis in the dollar?
The actual money flow has turned back up and the green line price indicator is still pointed up on the hourly chart. However, all other indicators are looking very overbought or have topped and moving lower (including the tick data).
We did have an accumulation day for the Dow on the daily chart. The NYSE had a 65% up volume day and the broader had a cash inflow of over $2 billion. Basically all the indicators are nuetral here ... the market could go either way here ... in my opinion its still going to come down to the dollar.
The dollar made a new short term low today. If this keeps up ... gold and equities will march higher in the new term. This is really going to be interesting here if this breaks down ... will we have a currency crisis in the dollar?
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