A look inside the markets is in order. This is a tool called the MCM Market Ledger. It's comprised of some of the key component elements that creates the Accumulation Index. So, when one hears a mention of "Accumulation Index" this chart shows some color on the implications of that. We calculate very precise real-time cash flows and trade ticket analysis. This is an unprecedented view into the markets activity. Additionally, the Green line over price is the accumulated ledger cash flow into the market plotted for comparison to price. This line is showing a slightly higher swing high...and within a hair's breadth of making new all-time highs.
Always sensitive to capitulatory behavior. It pays to be on the look out for TOO much money going into the market in too short a time. The recent days have NOT shown a tendency towards this and instead would indicate that something is afoot...somebody is putting cash into the markets with some foresight and commitment would be my interpretation. These are certainly influences as to why, to this analyst, the markets have what seems to be a bit more work to do before starting their three months down cycle.