Wednesday, October 20, 2010

Money Flow

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15-min charts are turning bullish which increases the odds of indexes moving to the October 18th highs. So far, money low on the 5-min, 15-min and 30-min charts could be considered positive. Money flow on hourly chart is still could be considered between neutral and ngative.

The first hour of trading went on high volume and most likely second hour will be on strong volume as well. High volume and high volatility during an up-move suggest weak up-move and I do not expect to see strong up-move today. Yet, anything could happen.

US dollar index is down and it helps bulls.

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