The markets gapped up today, and the dollar gapped down. This is what's happening. The dollar needs to find a bottom for the market to stop rising. I'm tempted to say the money printing is causing this. I monitor many other Technical analysis sites, and everybody's work says a top should be in here somewhere, in fact many have been expecting it for over two months now...
So, when so many methods by competent people are not confirming the market action but they confirm each other, then something is going on beyond normal market forces....
Just an update after market close, all of the major indexes except the $SPX have now got the Chaiken money flow going negative. That's usually associated with declines, I don't think I've ever seen much of a market advance under that condition.
The large bulge in the Chaiken money flow up to this point suggests a lot of accumulation, which might make a big decline difficult in the short term...
2 comments:
Mark it is all about the dollar but there will come a time when the market will crash along with the dollar so this will all back fire on the feds. They have been pumping money into jpm and goldman sacks since march and letting them leverage 100 times to keep this market up. That is a proven fact and when they all run for the exit door at the same time that will be very funny to me because of all this market manipulation. waldo
Hi Waldo,
I agree with you, this thing will probably fail in a spectacular fashion..
Regards,
Mark
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