It is also important to note that broad market money flow has not kept pace
with recent price appreciation. Please observe the chart below.
The orange circles on the chart above highlight the latest comparison of the
S&P 500 Index (SPY) to our proprietary measure of broad market money
flow (MF). The arrows illustrate the inverse direction one has to the
other. This is further indication that a pullback in stocks is forthcoming as
MF leads price.
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