Markets bounced on a Money Flow that was 250% the average MF of the past 10 days. This indicates that markets are not ready to fall. Not sure how much higher they can go, but now is not the time to look for short trades.
We will turn short when the 20DMF will issue a short signal.
On the Futures, we can see that the NQ100 turned positive, but that the S&P500 and the Russell 2000 Futures still display weak EV patterns.
The Financials still display a weak MF.
Conclusions:
We are still in a wait and see situation: there are no obvious long opportunities and the Money Flow is still too strong for us to be turning to the short side.
In all probabilities, the S&P500 will hit $2700, initiating a wave of shorts covering activities. So 2018 looks similar to 2017.
