TVO Market Barometer 3/26/15

TVO MB 3-26-15b

When evaluating a market bounce, what we look for first is a blow out day where down volume comes in at an extreme over up volume. Then if we bounce the next day on strong down volume, we’d like to see overall volume pull back a little. That’s how things looked today on the NASDAQ, but SPY and other indices may have a few more things to work out before all is clear for the bulls. Aside from middle east air strikes (which are certainly a tragedy, but nothing new), next week has no lack of catalysts. It’s not often we have the end of Q1, Consumer confidence AND the Unemployment rate all happening in the same week, so hold on to your hats. -MD

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