TVO Market Barometer 12/1/14

TVO MB 12-1-14b

Some folks asked for blood and we sure got it today. Volume stats reveal an extreme amount of distribution across the board. What’s peculiar is that with this kind of heavy selling, you’d expect a much greater decline in the indices (greater than 1%). We gapped lower and stayed in a range, which means there were dip buyers out there. This may be the last chance for all the FOMO managers to get in for the year end rally. Is the flush over? We may have one more day. And why did the oscillator go up after such extreme carnage? That’s an industry secret.
Let’s just say for now, limbo is the place to be. -MD