Firstly, I apologize for the length of my post, but I have a lot to say…thanks for bearing with me!
Further to my last weekly market update, here is a summary of where money flow ended for Week 4 of March 2012.
The Weekly charts below of YM, ES, NQ & TF show that YM & ES made a lower close and NQ & TF made a higher close than the prior week. The uptrending channel is still holding as support and direction for the Weekly timeframe. Secondary support levels lie at the middle Bollinger Band (12440 for YM, 1298 for ES, 2438 for NQ, and 772.80 for TF). Both the YM & TF pierced below their lower channel, once again, but managed to close inside…ones to watch for potential developing weakness.