TVO Market Barometer 2/18/15

TVO MB 2-18-15b

Up and down volume was pretty much divided straight down the middle today. It appears the market is applying the brakes at this point just in time for options expiration this Friday. The Fed charged afternoon algos couldn’t really do much to disrupt what turned out to be just another bullish inside day for SPY. There is a slow turning of the tides taking place, so short-term profit taking may be in order, but NASDAQ 5000 looms in the distance… Yeah about that, so what’s the big deal anyway? It’s just a number, right? There aren’t guys actually still holding stocks up there waiting to break even are there? Well when you peel away all the news, events, data and analysis, what we always end up remembering as important is the milestones. All the rest is just noise. And we will test it again just to know what it feels like. It’s just our passion for dates and numbers… so dust off your ’00 hats and get ready. -MD

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