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Money Flow for July Week Two

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Further to my last weekly market update, here is my commentary on the long, medium, and short-term trend/risk appetite of the 4 Major Indices and 9 Major Sectors relative to their Monthly, Weekly, and Daily charts, respectively. Please refer to that post for an explanation of how my “BULLISH/BEARISH” and “RISK ON/RISK OFF” labels are derived.

Chartgrid #1 depicts a Monthly timeframe of the 4 Major Indices (Dow 30, S&P 500, Nasdaq 100, and Russell 2000)…my comments refer to the current month’s (July’s) candle.

  • “BULLISH” so far this month for all 4 Indices.
  • “RISK OFF” so far this month on the Dow, S&P, and Nasdaq. “RISK ON” on the Russell. Still room for these indices to rally to their upper Bollinger Band if they stay above the “MEAN.”
  • Long term, the Russell is lagging in strength and is the one to watch, as a drop below its “MEAN” could send it down to the lower Bollinger Band and pull the others down with it. The S&P is in imminent danger of a bearish moving average “Death Cross” formation occurring on this timeframe…one to watch for market reaction. High-wave spinning top candles depict market indecision on this timeframe.