TVO Market Barometer 2/3/15

TVO MB 2-3-15b

So we got our bullish confirmation day today in a big way with 5 times more up volume than down, the largest ratio we’ve had since December. Any shorts that haven’t already been torn to shreds would be advised to stay clear of this one. Markets are famous for their short-term memory… as we all try to pretend the last 7 days never happened (Tuning out noise gets easier with practice). The mini H&S on the VIX has formed which signals that shrinking volatility lies just ahead. Oil seems to be at a level the market favors, so peace and harmony have been restored for now… but fasten your seat belts as we hit SPY 205, ’cause there are bears out there that won’t let this one go that easily. -MD

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