TVO Market Barometer 4/10/15

TVO MB 4-10-15b

Earnings season is upon us and there are lots of goodies coming up next week (retail sales, beige book, etc.) to watch out for. In the midst of all that, the NASDAQ and SPY are about a stones throw away from all time highs, bad news has suddenly faded into the background (it must be spring or something) and TVO has generated a 2nd long signal. So wait… what’s up with adding as we rally higher? Well we all know “high” is a relative term and breaking into a new range will make SPY 210 seem “low” be comparison. Whether we end up averaging up or down depends on the where big institutional volume has led us. And right now that’s looking to be right about where we originally went long in the first place. Coincidence or volume data magic? You can decide. Either way our risk has now significantly decreased and buying more of the same calls takes advantage of that. See you at Monday’s close. -MD

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