Thursday, March 13, 2008

Smart Money Flow Index Graph


(click on image to enlarge)

BOTTOM LINE: Three days ago the S&P 500 made a new closing low and came very close to its intraday low of 1,270.05 on January 23. However, the Smart Money Flow Index, pictured in the graph above, is well above levels seen in January. This is a noteworthy positive divergence.

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