Tuesday, November 17, 2009

Stock Market Update - November 17, 2009

Hourly chart for the Dow shows money flow is at the bottom of the cycle ... we should see some price support to come for the very short term.

As for the daily chart ... weakness is ahead ... again for the short term ... both money flow and price are close to their respective cycle highs. Any price strength may serve as a chance to short the market here for a few points.

Dollar showed some strength ... again the direction of the market is going to come down to the dollar.

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