Jesse's Café Américain (pseudonym) is a popular financial and economics blog where host Jesse writes about the economy, market movements and the political shenanigans behind them. His charts on precious metals are an excellent resource for technical traders.
The concept behind the Smart Money Flow Index is simple. The SMI states that:
1. The “dumb money” trades during the first half hour of each trading day (9:30 am to 10 am), while…
2. The “smart money” trades during the last hour of each trading day (3 pm – 4 pm).
The index was invented by Don Hayes.