TVO Market Barometer 4/29/15

TVO MB 4-29-15b

So today the Fed spoke, or rather sang the same old tune with the market falling into what has become an old familiar song and dance pattern. Problem is both sides don’t know which one is leading. Different levels of up and down volume across the indices are pulling things in different directions and it seems like neither bull nor bear committment is strong enough to start a flow. Knowing how money flows in and out of the market is an elusive game at best, and if it was as easy as trusting some ominous numbers from the Wall Street Journal at face value, then millionaires would be popping up all over the place. TVO has started to turn, which could mean a drop from here, but the slowness of the change and the fact that the oscillator is still above +3.0 (not to mention the inside day on SPY), is offering us a glimpse of some consolidation under the hood. -MD

For more on market volume, The TVO System, or how to trade options follow me on Twitter (@TradingLicks) and StockTwits!