Positive Factory Orders data might give the market some lift early, however all eyes will be on the FOMC Minutes to be released today at 2:00pm. Swing traders may want to keep any new commitments on the light side before the release as it is highly anticipated and could easily move markets very quickly in either direction.

It has been approximately 10 days since we last checked in with broad market money flow. Please observe the chart below.

Broad market money flow remains in a downtrend since early February, although it is in the midst of another attempt to break the negative slope.

Generally, it is money flow that leads price, which still might occur. However, the longer stocks continue to grind higher, the possibility of another scenario playing out becomes more possible. This would be a surge of money into stocks from those on the sideline who finally throw in the towel out of fear of missing anymore upside. This would then bring the trend of stocks and money flow back into alignment.