TVO Market Barometer 4/15/15

TVO MB 4-15-15b

A somewhat modest one point gain on SPY today, turned out to be quite a significant volume boost overall with up-volume coming in more than double over down. The victory can surely be claimed by the bulls at this point, although failure to break some resistance levels must have made some bears happy. But NASDAQ 5000 looms its head again and the FOMO crowd is getting ready to spring into action, so things could heat up quite a bit from here. We could speculate on the likely catalysts; Beige book, the Draghi effect (which has suddenly taken on a whole new meaning), or options expiration coming up this Friday. No matter what noise comes into play, ours is not to reason why… When big institutions are accumulating, ours is to be on their side. -MD

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