Money Flow Update…

We received several requests for an update of our proprietary measure of broad market money flow (MF). The update is pictured below.

In the medium term, the S&P 500 Index (SPY) and MF continue to diverge from one another. Last week, MF did break the downtrend line drawn on the chart while SPY continued to move sideways. This isn’t enough to nullify the divergence just yet, but we are keeping an eye on it and will report further meaningful changes in MF as the market evolves.

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