I had hence to cover my SPY short position opened on Monday.
The NQ8 attracted money together with the rest of the market as the move was broad based.
Interesting to see that the most shorted/sold growth stocks experienced the strongest positive Money Flow.
The MF on both sections of the S&P500 however still displays a negative divergence here
and so does the Cumulative Ticks
The NHNL indicator is now slightly positive, but the move was not as impressive as the price jump.
On the rates side, the 10Y rates barely moved down yesterday
and we can see below that Treasuries buyers are no to be seen here.
Conclusions:
We can see below that the $SPX if now at its resistance level.
Yesterday's momentum could continue and help the markets break above that level to challenge the next level.
