TVO Market Barometer 4/21/15

Trading Licks

TVO MB 4-21-15b

We all have our differences in the market, but whether you’re a bull or a bear we can all agree that it’s not a good sign when both sides disagree… Uh, in volume that is. The NASDAQ has tipped the scale with up-volume while SPY has tipped the same scale the other way by just the same amount. Overall volume increased so the weight on either side is convincing. There’s clearly a struggle as to which side will prevail in the near-term, but the good news for TVO followers is that we’re now in a range where the oscillator has the potential to reverse (note the green area on the barometer). So if the long-term accumulation trend continues, we’ll stay on and ride what will ultimately be a move higher, but if distribution takes hold we’re likely to get an exit signal. In either case we may be in for…

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