This occurs on the SPY and the QQQ Money Flows.
Note that the SPY and QQQ EV pattern still look rather weak here.
Most sectors displayed a negative Money Flow yesterday.
I noticed a few energy sectors showing a positive Thrust. However when digging deeper, the stocks that attracted the most were mostly very poor stocks that fell by 50%, that have short ratio higher than 20% and high debt/assets levels. In other words: the signature of shorts covering.
This tells me that we might be close to a broader shorts covering move in the energy sector.
However neither Oil nor the XLE_MF show that a bounce is at play yet.
Most of the big oil related companies still show very negative EV patterns here:
However, we need to keep an eye on the energy sector that is now widely oversold.
Conclusions:
ETFs are selling stocks in an orderly fashion that has little impact on the general market.
As a matter of fact, neither geopolitical tensions nor internal white house issues had much influence on US equities markets.
The IWM/SPY ratio is back to the bottom of its envelope, a place where bounces occur.
The Russell Futures still look rather negative though.
