If we look at the longer term, we can see that large players are not selling.
This is probably due to the Fed's message of "no rate hike".

On the other hand, today's activity shows that price and MF move in lock-steps.
Timing is everything. I suspect that traders will bounce the market this afternoon as we all expect some Fed/ECB nice words to try help markets higher.



Pascal

Name:  XLI_MF.gif
Views: 258
Size:  30.4 KB

Name:  XLE_MF.gif
Views: 270
Size:  32.7 KB

Name:  XLF_MF.gif
Views: 242
Size:  31.9 KB

Name:  XLK_MF.gif
Views: 253
Size:  32.5 KB

Name:  SPY_MF.gif
Views: 257
Size:  31.7 KB


Name:  20DMF_RT.gif
Views: 243
Size:  39.5 KB