TVO Market Barometer 4/8/15

TVO MB 4-8-15b

Despite the fact that the Fed had the markets bouncing around like a juggernaut most of the day, up-volume was predominant for the session, especially on the NASDAQ. SPY bulls are claiming victory for the time being, as the index hangs just above the 50 day, but as we’ve seen since the beginning of March, the territory on either side of that line in the sand is not occupied for very long. The bears are quickly running out of tricks (making mountains out of mole hills is not an easy task), and today’s choppy volatile mess is looking more like consolidation around the SPY 208 level (yet another line in the sand) in retrospect. -MD

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