TVO Market Barometer 2/10/15

TVO MB 2-10-15b

The lack of distribution that we saw in last night’s analysis, has indeed given way to accumulation as some high volume institutional buyers stepped in, bought the gap, shook out the weak hands and never looked back. A lot of folks are waiting for a resolution on Greece, but the market is not waiting for them to get on board. The bears may want to remember this phrase (amongst the many you’ll be hearing now that presidential campaigns have begun)… “Goodbye SPY 205,” as this may not be a rally you want to short. The shorts are best to wait until the oscillator gets above +3.0, and it’s now heading in that direction, so the time will come… but for now the chase begins. -MD

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