TVO Market Barometer 2/19/15

TVO MB 2-19-15b

The volume story on Thursday was pretty much the same as Wednesday for the NASDAQ, strong up volume with a decline overall. Meanwhile on SPY the tables continue to turn, but the bears still haven’t managed to dig their teeth in quite yet. It still looks like we get a sideways consolidation while the divergences smooth out, with an occasional flush here and there to keep the bulls on their toes. QQQ does look like it’s going straight up at this point, and is alarming for some to say the least… but remember that markets can stay irrational much much longer than you can ever stand, so hang in there. -MD

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