TVO Market Barometer 12/12/14

TVO MB 12-12-14b

Was today a volume massacre? Not really. Capitulation? Not even close. Gaps need to filled, MAs need to be broken so the selling will likely continue, at least until they flush out the last few stops remaining just below 200 on SPY. No doubt they’ll be running this further into the ground until Yellen speaks on Wed, leading us to believe that the Fed might just be the spark that ignites the Santa Claus rally. But we will need to see a lot more green next week to turn this thing around. -MD

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