TVO Market Barometer 3/23/15

TVO MB 3-23-15b

After the massive volume boost we had last Friday, anything today would’ve seemed light in comparison. So markets took the opportunity to pull in and continue to digest last week’s madness. SPY is still showing strong advancing volume from last Friday, while the NASDAQ seems to have bitten off a little more than it can chew with declining volume coming in slightly higher than up. Many folks have been asking why go long now? Last Wednesday around 2:30pm the answer would have seemed obvious, but from a volume perspective it’s very clear that markets are accumulating. It’s institutional volume that moves markets (which prices may or may not reflect in the short-term), and if their train is coming through town, you want to be ready to jump on for the ride. -MD

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