Tuesday, November 9, 2010

Money Flow

Follow Me on Facebook Follow Me on Tweeter
Before today's market close, I have mentioned that if the indexes continue their decline by the end of the session the odds should be good for bearish market tomorrow. The indexes declined, however, during the last 10 minutes of trading we had a bounce up.

Because of this up move, the indicators on 1-min and 5-min charts started to move toward bullish sentiment, which may suggest that we may see some bounce up tomorrow at the market open. However, money flow on the 15-min, 30-min and hourly chart remains to be bearish which suggests overall bearish outlook for tomorrow's session. Still, if we have positive move tomorrow at the market open, I would monitor 15-min and 30-min chart to see how it affects money flow on these time-frames.

No comments: