First of all, I apologize for the length of my post, but I have plenty to say…I appreciate you allowing me my indulgence and intrusion into your time.
Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of February, 2012.
The Weekly charts below of YM, ES, NQ & TF show that the YM, ES and NQ made a higher weekly close than the prior week, and that the TF made a lower weekly close…it's also the only one not to have made a higher weekly close in February since Week 1…one to watch for possible developing weakness. The NQ is climbing along its upper channel line resistance for the second week in a row.