TVO Market Barometer 3/16/15

TVO MB 3-16-15b

For the last 3 sessions, both sides of the market have been rocking the seesaw, flexing their muscles to show who’s boss, and today it was the bulls’ turn. The volume ratio once again flipped around to the exact opposite of the previous session, but this time the winds died down a bit for the bulls as volume fell significantly overall. Even though many of the late-to-the-party bears got their faces ripped off today, lack of accumulation can only push things so high, and downside will likely follow. More shorts may have to get squeezed before that happens, as the market often likes to clean house in both directions (SPY is an equal opportunity destroyer)… but if we continue on the seesaw, it’ll be the bears turn tomorrow and if volume is on their side, look out below. -MD

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