The 20DMF only shows a slight accumulation today: higher prices do not attracts renewed selling. This points to to possible continuation of the bounce.
Pascal
The 20DMF only shows a slight accumulation today: higher prices do not attracts renewed selling. This points to to possible continuation of the bounce.
Pascal
I had been expecting some sort of shakeout before a reversal, but the market has been flat since the open. Hence, difficult to take a strong position here either with or against the trend as there is NO trend.
Is the market waiting for some announcement from China? Is no-news good-news or possibly bad news in the waiting?
Pascal
Buyers on strike today.
Pascal
Pascal, second day with this divergence. Been watching on RT. Do you think lighter than normal volume could be contributing to this?
As I explain in today's comment, this was probably only due to morning weakness in FB/AMZN/GOOGL.Originally Posted by flywest
I shorted the S&P500 when I posted this message but covered the short when the 20DMF Reversed higher. This buying of morning weakness reinforces the bullish case of stocks, especially non NQ8 large stocks.
Pascal
Got it thanks! Since indices were moving up without those Faang stocks i surmised we'd see some price weakness later in day. Wow what a move.
Take care
Today, the NQ8 is weaker than the NQ100 in terms of Money Flow. This is due to AAPL.
It is something important to note looking forward.
Pascal
Interesting activity today: buyers came in at 10:30 on the NQ8 sector (AMZN, FB and some other stocks.) This pushed the S&P500 higher, but the 20DMF clearly shows that there is underlying weakness.
Pascal
Today's activity is still miserable in terms of Money Flow.
Pascal
Market is probably setting up for an afternoon bounce.
Pascal
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