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高开跳出昨天的range，因此不sure空会不会补。介是SPY的第11个空。
Chart B: Liquidity Inflows and Outflows
Liquidity inflows are critical to the market's action. If indicators are weakening while Liquidity is flowing in, then the liquidity inflow will take precedence and hold the market up.
Liquidity inflows moved a bit higher and slightly above our resistance line. Although at its 2nd. lowest level since mid July, Liquidity is still a high positive so it would not be unusual to see extreme volatility and whipsawing.
Chart C: Institutional Accumulation/Distribution
Last Thursday, Institutional Investors had their first day of Distribution since July 15th. Yesterday, Institutional Investors were in Distribution with the Sell/Buy spread decreasing slightly. Institutional buying increased slightly, and Institutional selling decreased slightly.
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*** Conclusion on the above charts A to C: Liquidity is still at a high rate and inflowing yesterday. Prior to that, we had been pointing out the following: "Do note that Institutional Selling is in an up trend ... this is an indication that Institutions are quietly stepping up their profit taking." Our premise has been to never go against Institutional Investors. We have no way of knowing if they will remain in Distribution, but as long as they remain in Distribution we recommend that you be in cash ... so, last Friday, we recommended moving to a cash position. Liquidity inflows remain high, so we are likely to see whiplashing upside movement as well.
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发表于 2009-10-6 08:06 AM
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