Slope of Hope Blog Posts

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Money Flow for August Week Four

By -

Further to my last weekly market update, this week's update will be a
very simple top-down look at the 6 Major Indices and 9 Major
Sectors
. To keep my analysis simple, I'll be looking at Friday's
closing price relative to its position within the Bollinger Bands (BB) on three
timeframes. The upper BB represents resistance, the middle BB represents either
support or resistance, and the lower BB represents support. Price in between the
middle BB and the upper BB is said to be in the "Bull Zone"
(still under bullish influences/buying pressure with support at the middle BB)
and price in between the lower BB and the middle BB is said to be in
"Bear Zone" (currently under bearish influences/selling
pressure with resistance at the middle BB).

(more…)

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