Tide of Fund Money

Tuesday saw a huge tidal wave of fund money come in.  The ETF flow numbers hit $25.7B, when the number is usually within +/- $3B.  So you had 10 times the normal inflow on Tuesday.  This usually doesn't mark an exact top, but it tells you that most of the gains on the upmove have been made.  I covered part of my short for a loss, and will add again later.  Earnings lowball estimates saved the day, and most heavily followed earnings plays have gone up after bad earnings.  It looks like the top will take some time, as it often does, so we may have to spend another week or two at these levels to draw in more hedge fund money before the flush out.