High Volume

It does not looks like the US indexes are rushing down, despite the fact the US Dollar Index is up and already recovered completely from the yesterday's losses.

The indexes are still traded on the high volume. I would say that so far the situation is uncertain and we still have odds of the market moving in either direction. If yesterday's up-move is a beginning of a new up-trend then it would be logical to have positive movement today as well. If yesterday's up-move just short-term bounce up (result of dollar-inflation panic) then it would be logical to today slide down.

High volume at the current high-price level could mean that we have many traders rushing into the market (could be the same result of dollar-inflation panic), yet we have equally big number of traders who is selling short and who is dumping stocks (could be result of analysis that shows overbought markets). We do not know which group of traders will win and what sentiment will be dominant. We may just wait when volume activity starts to decline and watch where the market goes.

P.S. At the current moment I'm on 5-min and 15-min S&P-500 chart. So far money flow on 5-min chart is negative and on 15-min chart money flow moves toward negative area