Wednesday, May 23, 2007
Oil's at $65.61/barrel, Gold; $663.50/ounce, even the U.S.$ has gained some ground versus its currency pairs. Meanwhile, the DJIA keeps making all-time highs, same with the Russell2000. The S&P500 is doing its best to join the all-time-high club, and the Nasdaq hasn't seen peeks like this in over 6 years. All this with very bullish technical indicators across the boards. So, where's all this money coming from? Dr. Brett Steenbarger touches on the money flow subject in his mid-week posting. He sees unquestionable money flow into large caps, and 5 of the 8 S&P sectors he tracks as having positive net dollar inflow. Long is still the trend.