TVO Market Barometer 12/3/14

12-3-14b

Another high score today for advancing volume. Overall volume dropped slightly, but remains steady (thus the slight dip in the oscillator), so everyone seems to be in at this point. Next stop is Friday’s unemployment number, so we’ll see if the market runs up until then. For now not a bear in sight, but as they say here in New England if you’re looking for one you’ll never see one. Although we don’t have a sell signal, due to the time sensitive nature of options, we’ll be closing our SPY Jan 15 calls at tomorrow’s close (From this point on the price starts to decay rapidly, so going to get out while it’s good). Looking to go short? Not until TVO goes above +3.0 -MD

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