TVO Market Barometer 2/20/15

TVO MB 2-20-15b

We pushed forward on Friday with increasing volume but the amount was less than impressive. The consensus among the big institutions is that we are now in a new range, but we can surely expect a play from bears over the next few days (P.S. Parabolic charts are generally not a good time to buy). So the rally is because Greece got an extension? I don’t know about you, but if I end up filing an extension on my taxes, it’s not exactly what I’d call optimism. Nevertheless the relief seems to have freed things up a bit for what comes next… The Yellen testimony. Now I report these events only in that they may end up serving as some kind of catalyst, but usually the market has already made up its mind no matter what the Fed says. A good time to short? Depends on your time frame, but not for us until we’re above +3.0… which is getting closer. -MD

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