As was detected amid Tuesday’s decline, advancing volume continues to increase into today, but overall volume is not convincing enough to call this a reversal just yet. Distribution has turned the oscillator around with further negative values to come. Remember that volume always precedes price and any price that goes against what the volume reveals is likely suspect. Also remember that the Fed and the unemployment number are often catalysts for a change in Market direction that has already been set in motion by volume. If we bounce on news and volume is lacking, the party won’t last very long. -MD
The TVO System results for 2014 are in and will be posted soon, so stay tuned!