TVO Market Barometer 3/5/15

TVO MB 3-5-15b

The heart of the NASDAQ is still beating from the ferocious climb to 5000, but it is starting to beat a lot slower. Overall volume is falling and up/down volume is close to a stalemate (more up on QQQ, while more down on SPY), as the bounce had some continuation today, but markets are indeed slowing down. It’s looking like a battle that neither bears nor bulls seem interested in fighting at this point. The sudden climbs and slips in the daily action are not what one would call healthy consolidation and gives the impression that the longer we stay in this state, the more bulls will jump ship. This is how bear flags are created as big money players get tired and just don’t have the patience to wait things out. In the absence of a catalyst things can drift this way for a while… but the floor eventually gives way. -MD

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