TVO Market Barometer 1/13/15

TVO MB 1-13-15b

We can blame the market action today on — insert Wall Street’s favorite scapegoat here. And the honors today go to Alcoa. Blaming oil has become too confusing and those that are choosing to not fight the Fed are currently ending up with nothing to fight against but themselves. The wild ride of a selloff was pretty much the same as yesterday on the volume scale only with a quite bit more overall volume. If we continue at this pace for a few more days, a reversal will be imminent because there will soon be no one left to sell. Of course, we know at that point all the average joe traders and investors out there will be too scared to buy, but the big institutions know a bargain when they see one, so clear the way… and the blame game starts all over again. -MD

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