The Dow Industrial Average shows bearish increased volume on the last two days down-swing. Low volume during the rally over recent weeks indicates a lack of commitment from buyers. Twiggs Money Flow reflects this, failing to show any meaningful accumulation.
Twiggs Money Flow fails to reflect significant accumulation.
A trough above 1100 would be a bullish sign, while a peak below 1100 would be bearish.
Twiggs Money Flow shows signs of improvement, crossing to above the signal line.
The NYSE Bullish Percent Index rose to 59.24%, close to the start of a bear correction.
The yield on 10-year treasury notes is consolidating above 4.00%.
Market expectations are for a quarter per cent rise at the Fed's September 21 meeting.
The yield differential (10-year T-notes minus 13-week T-bills) eased to 2.6%.
Low differentials (below 1.0%) are generally bear signals.
New York: Spot gold continues to test support at $400, ending the week at $401.50.
Marginal new highs (May to August) indicate a lack of commitment from buyers.
Resistance is evident at 3600 on the All Ordinaries with successive weak closes on strong volume. So far buying support has prevented a down-swing. Expect a down-swing next week to test support levels.
Twiggs Money Flow is cause for concern: turning over below the signal line to signal distribution.
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