TVO Market Barometer 4/22/15

TVO MB 4-22-15b

Our divergences from the previous session seem to have resolved today, as SPY continues to accumulate and shake out more stops in the process. And with a classic 80/20 reversal resulting in a green hammer (much better than a red one I’m told), even the most skeptical chart technicians are giving this unbreakable sideways market a second thought. Those still waiting on the sidelines deserve credit for their perseverance as we hover around SPY 210 yet again. They need to watch carefully, however, for by the time they decide if this is “for real” this time, the ideal entry may have already escaped their grasp. TVO has been in a long signal since 3/20 as we believe the greatest risk is the one not taken. Waiting for resolution still ends up being a part of the plan, but minus all the watching it becomes a whole lot easier. -MD

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