TVO Market Barometer 12/9/14

TVO MB 12-9-14b

As suspected the Monday flush carried over to today and the dip was bought. Lots of advancing volume, but not enough to keep the oscillator from going negative. Make no mistake there are no lack of buyers here, but it’s far from a stampede. The big players have taken their profits early, and it’s really starting to look like there’s nobody left to sell. If volume stays light, I wouldn’t be surprised to see SPY stuck in a range between 204 and 208 for the next 2 weeks. If we do get more downside volume conviction however, look out below. -MD

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