TVO Market Barometer 2/24/15

TVO MB 2-24-15b

Well it’s clear that the Fed loves this market and vice versa. And what’s not to like? Aside from the increasingly parabolic QQQ, the major indices are advancing quite orderly (today on advancing volume) with nothing standing in their way anytime soon except maybe the March economic data… Even the hardcore bears are thinking about changing sides. Although don’t be surprised if we get a little unexpected bombshell from day 2 of the senate hearings just to rattle the cage and keep everyone on their toes. The basis for that prediction? The market has had virtually no distribution whatsoever since 1/30 and equilibrium must be restored somehow. So far we’ve slowly let off steam little by little. They are not perfect machines and are known to stall at times, but right now markets are healthy, so enjoy it while it lasts. -MD

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