TVO Market Barometer 1/12/15

 

TVO MB 1-12-15b

So gaps have been neatly filled and we’re looking at head and shoulders forming across the major indices… but are they the real deal? I honestly couldn’t tell you. There are so many rules for chart patterns and with all the weak confiicting statistical data we have on them… well you get the point. What we can clearly see (and what really counts IMO) is that we are in a sideways market that is in the process of resolving itself. Cash is king until they figure out where this is going. For now distribution continues and aside from a reactionary bounce here and there be prepared for a choppy and mostly southerly course until volume proves otherwise. -MD

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