The Cumulative Tick still however looks weak here and we can see that the Money Flow on both sections of the S&P500 is about at zero here.
The tech sector looked slightly better than the rest of the market.
XLV which had been strong earlier displays signs of weakness, while XBI still shows relative strength.
It is interesting to see that even though QID was bought, both TWM and SPXU are heavily sold here. This is clearly speculation that a bounce is coming.
Interesting to also see that the NHNL indicator is making a higher low, indicating that fewer stocks participate in the selling.The selling is losing steam.
Conclusions:
The market should normally bounce today. Monday is another Month and another story, but the infamous bearish September will be out and we will welcome more bullish trading opportunities.