Interesting Links

[Andrei]

Bloomberg Smart Money Flow Index.

Note how it went up from 6/17/2011.

http://www.bloomberg.com/apps/quote?ticker=SMART:IND


[Update]

Smart Money Flow Index

Description:

The Smart Money Flow Index was developed by WallStreetCourier in 1997 and is a trademark of WallStreetCourier.com. Since then WallStreetCourier is the official source of the Smart Money Flow Index for Bloomberg Professional.

The Smart Money Flow Index is calculated by taking the action of the Dow in two time periods: the first 30 minutes and the close. The first 30 minutes represent emotional buying, driven by greed and fear of the crowd based on good and bad news. There is also a lot of buying on market orders and short covering at the opening. Smart money waits until the end and they very often test the market before by shorting heavily just to see how the market reacts.

Then they move in the big way. These heavy hitters also have the best possible information available to them and they do have the edge on all the other market participants. Whenever the Dow makes a high which is not confirmed by the SMI there is trouble ahead or the other way round.
Indicator Details

Updated: • daily/weekly

Signals:

Bullish: If the Dow Jones Industrial Average declines which is not confirmed by the Smart Money
Flow Index

Bearish: If the Dow Jones Industrial Average advances and the Smart Money Flow Index is lagging behind


source:http://www.wallstreetcourier.com/v/c...flow-index.htm

P.S I think (I may be wrong) that there is a similar index either at MarketTells, or at some different site, where flow is being derived by taking 2 different times of a day and doing some calculations. However I don't remember if index there is more longer-term or similar in nature.