Monday, November 29, 2010

Dollar Up, Indexes Down

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Despite the fact the emini index futures were positive yesterday afternoon, as I expected (see "Side-Way Trend on Indexes"), the indexes are down today.

The money flow on the 15- and 30-minutes charts continue to stay negative. Money flow on hourly charts is still continue to be neutral, yet, it slightly tends to become negative. If it happens, I would expect further and stronger drop.

The US Dollar index is up and this is playing on the hand of bearish traders.

I'll continue staying on the 15- and 30-min charts.

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