TVO Market Barometer 5/14/15

TVO MB 5-14-15b

In just a week’s time SPY has gone from the brink of the abyss below the 50 dma to just a mere stones throw away from 213. But the star of the show today in terms of volume was the NASDAQ, logging more than double the up-volume over down, pushing the HG to -3. The oscillator has turned and we’re headed back up to positive values, but today’s overall volume did not budge (have I mentioned before that TVO continues to surprise me?), so the number moved only slightly. The bulls will need to get a bit more wind in their sail to keep momentum going. Do we have any idea if it will come from tomorrow’s economic numbers? The slowly sinking dollar? More news from Greece? The Fed next week? Well it’s the big institutions that move the market and they certainly have an idea, and if you keep following market volume you’ll often find that their story has already been told. -MD

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