TVO Market Barometer 4/23/15

TVO MB 4-23-15b

Up-volume remained steady in today’s session, but down-volume was on the rise as the bears tried to snuff out the candle near the close. The somewhat last-ditch effort just wasn’t enough to stop the NASDAQ from finally (drum roll please) closing at a new all time high. The record being broken will probably be talked about so much in the upcoming days that it will start to sound like a broken record. Many bears will even start to root for higher now as the “I told you so” 10% correction folks have stepped aside for the time being and nobody wants to be on the losing team. So before we break out the “this time it’s different” bumper stickers, let take a look at a little TVO history. The previous ATH on 3/10/2000 was actually an eerily similar day volume-wise. The oscillator was at +4.1 and remarkably reversed 2 sessions later on 3/14… talk about timing. -MD

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