TVO Market Barometer 2/6/15

TVO MB 2-6-15b

The oscillator did not budge on Friday as both bears and bulls alike failed to impress on the volume scale over the last 2 sessions. It seems as if both sides are growing tired of this match and are both willing to lay down just to get some kind of resolution. The technical analysis bulls are no doubt claiming some kind of victory holding the 50 DMA with ATH’s just a few points away. But volume right now is saying the big institutions may need a little more coaxing. If this market decides to keep playing the waiting game, it comes down to either how long SPY 205 can hold, or if we suddenly break 209… which in that case may very well just send the bears back to their caves for the winter. -MD

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