Wednesday, October 20, 2010

Inraday Charts

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The indexes (Nasdaq 100, S&P 500 and DJI) have come to their highs seen on October 18, 2010. We already started to see some resistance to the up-move. Money flow on 1-min chart is already negative and on the 5-min chart money flow is moving towards negative area. The morning trading went on quite strong bullish volume (see hourly volume charts for S&P 500, Nasdaq 100 and DJI) - this is another force that may stop the today's advance. The money flow on the 15- and 30-min chart remain to be positive. I would continue to monitor these charts to see if any changes in the indexes' sentiment occur.

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