TVO Market Barometer 1/15/15

TVO MB 1-15-15b

It was a blowout for declining volume, but overall we took a little breather. The selloff may be slowing down, but it doesn’t look like it’s over yet. The big boys are just not showing any interest in buying, and what trader out there wants to worry about their range bound long positions with a big ski weekend just ahead? (I hope you’re not one of them… TVO followers have been in cash since 12/4/14) If it’s a big enough drop tomorrow (remember options expire) then that may be the last flush before the reversal. But don’t get too hopeful unless we see some accumulation in the volume data. A sudden turn in the oscillator could do the trick (and give us a long signal), so keep an eye on the wheel and keep tuning in right here. -MD

For more on market volume, The TVO System, or how to trade options follow me on Twitter (@TradingLicks) and StockTwits!