TVO Market Barometer 3/9/15

TVO MB 3-9-15b

The morning bounce on the Dow looked as if the “Now we got AAPL” party has already started. The rest of the NASDAQ didn’t seem to have as much to celebrate, as up volume surged while overall volume declined. And over at the SPY house a one point climb (which is barely what you’d call a comeback) was on a surge of down volume… Not the kind reversal the bulls are hoping to see. Yet, inside days can be the seeds for what can eventually become the next leg up, but SPY is getting awfully close to the 50 day and the stop hunters are getting hungry. So will the Apple Watch come and crash the party tomorrow? (Did someone say sell the news?) The 4 stages of Apple are as follows: 1. New product buzz and excitement 2. Failure to impress 3. One month later everyone has to have one 4. Repeat. -MD

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