Slow Decline

Slowly, but steady the indexes are declining. If you take look at DJI daily chart you may say that the DJI index has been in slow decline for five trading session in a row. Yet, this decline is so slow that only now DJI has wiped out all one-day gain it has on November 4, 2010. The S&P 500 is still above its end of October levels. Maybe this is why the today's decline does no generate any increase in volume on this index

The Nasdaq 100 is still traded on higher than usual volume. However, as on all indexes, Nasdaq 100 trading volume is steady - we do not see any volume surges (sudden increase in volume) which would suggest that so far this decline does not create any panic (no stop-losses are hit).

So far money flow on all time-frames is negative. I'm watching 5-min and 15-min charts. We may see some bounce up or side-way trading during today's session, yet by the end of the day I think the indexes will be down.