TVO Market Barometer 1/20/15

TVO MB 1-20-15b

The anticipation of the POTUS just wasn’t enough to get any bid happening today and the bears seem content at this point to keep the current range bound market right where it is. But the absence of bludgeoning on both sides could mean that something’s brewing beneath the surface. If they say it’s always darkest before the dawn, there may still be a little light shining through from the bulls since Dec (is their Xmas tree still up maybe?)… So when there are finally no bulls left standing that’s when we’ll start to see some action, and with the ECB just ahead we’re likely to get some. Stay nimble, for as we’ve seen it only takes just an onside kick to get momentum started. -MD

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