TVO Market Barometer 4/7/15

TVO MB 4-7-15b

A good old-fashioned surprise afternoon bear attack right before earnings season (the only time anyone is interested in the price of aluminum) can surely change the tone in the market to one of fear. And the most fearful attacks are the most effective as the average investor hits the panic button and runs for the hills. But with today’s up/down volume about neck and neck along with a drop in volume overall, the fearful selling so far is only scary on the surface. The best bet for the bears to break things out of the recent accumulation mode we’re in is for some heavy down-volume follow through… and if not Alcoa, it’s a pretty sure guess as to where else (and what time) all their bets will be tomorrow. -MD

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