TVO Market Barometer 3/30/15

TVO MB 3-30-15b

In nearly 4 years of compiling volume data, TVO still manages to surprise me. What seemed like a clear day of accumulation across the board, didn’t really¬†fare so well under the hood for the bulls. We did get our confirmation volume on the NASDAQ, but SPY fell short, pulling back a bit in volume overall. Now, being that it is the end of Q1 tomorrow, it’s not to say that things won’t follow suit, but a better case for a continued rise at this point, ideally, would be a move together in volume (rather than taking turns)… So it may be that we need a bit more consolidation around the SPY 208 level before anything takes off further. Otherwise today’s gaps could get filled sooner than you think. -MD

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