TVO Market Barometer 4/9/15

TVO MB 4-9-15b

After two solid days of accumulation on the NASDAQ, the oscillator values are changing more slowly and TVO is right on the verge of turning around (imagine a bus on a highway slowing down to take a u-turn). Over on SPY, overall volume took a little breather today, so we might be looking at a bit of sideways motion as we close in on prior highs. In any case, we’ll likely start to see fear rear its ugly head as the driving force behind this market. And it’s not fear the way you’d normally think. Folks can instill fear among investors when they talk about an inevitable or “deserved” 10% correction because the market “has got it coming”, but none of that comes close to the fear of missing out (or FOMO), when the rally starts to run away without them in it… And once that takes hold, it’s a powerful force to be reckoned with. -MD

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