Tuesday, November 17, 2009

Today's Market

A.) The QQQQs may be forming a broadening top formation.

B.) but the EMA picture is still very strong -- the shorter EMAs are above the longer EMAs, all the EMAs are rising and prices are above all the EMAs.

C.) Momentum was leaving the index, but

D.) We've seen a recent increase in overall momentum and

E.) If we're really topping out, why aren't we seeing money flow out of the market? Instead, we're seeing the A/D line hold steady.