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*Credit Inlet
Readers of older posts will recognize that I am a fan of using money flow indicators. Recently a colleague of mine suggested throwing in On Balance Volume for a closer look.
Here are 2 charts of the SPY as of today's close, a weekly and a daily:
Look at where the Chaikin Money Flow indicator is today on the DAILY CHART. Then look to see where it was at the end of June. Bearish? Potentially.
But also take a look at the larger picture on the WEEKLY CHART. Flows are actually ticking up!
Please note that these are technical analyses (T/A) tools. As w/all T/A, a margin of error is built in. Reading the tea leaves is more a science than an art.
*Disclosure: No position in SPY.
For more information on the 3 indicators:
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:on_balance_volume
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:chaikin_money_flow
http://stockcharts.com/school/doku.php?id=chart_school:technical_indicators:money_flow_index_mfi
