Is the Smart Money Index sending a signal of caution? While the Dow has rebounded from its lows, the Smart Money Index hasn’t been able to stage a sustainable rally. The Smart Money Index measures the performance of the market at the start of trading and the end. The “smart money” is believed to trade more heavily at the end of the day. The index isn’t infallible, but the big divergence between the Dow and the Smart Money Index isn’t a bullish signal.
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