NASDAQ large Investors Flow, constructive but still early...

Here we see the effective Volume Flow Analysis for the QQQQ (ETF NASDQ100). The blue line has slightly turned down (Blue: Large Investors) but needs more downside action to confirm a potential top.

See also the brown line (proxy for the average gain/loss of all active traders in QQQQ) that seems moving down and thus indicating some profit taking in the short term community.

We need to see this preliminary not yet conclusive action in the context of the longer term flow (see below), where we are still at the tip of the bear market rally. We need to see indications of serious liquidation (see blue line in 2008) in order to conclude that the "echo crash" or C-Wave has begun.

Also notice how shallow the upmove of the blue line looks compared to previous real volume action before. This further indicates that the rally since March is phoney....

Pls see for explanations here