TVO Market Barometer 4/20/15

TVO MB 4-20-15b

Markets snapped back in place today after the previous session’s flash like slip, however volume overall took a little breather (as SPY pauses to consolidate once again around 210). Its looking out to be all about earnings at this point (as if anything else really matters in the stock market), and the big institutional accumulation we’ve seen so far suggests the call for high numbers rolling in. Call it old-fashioned economic optimism, but that sure makes it look like it’s just good strong companies, and not low interest rates, that really drive the market (and the economy) after all. We don’t need too many indicators to figure that out, but our volume oscillator often gives us sign before prices react if the hand has already been played… and so far it looks like the bets are high. -MD

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