TVO Market Barometer 5/15/15

TVO MB 5-15-15b

The time has come again to hurry up and wait for what the Fed has to say, and lack of volume right now is telling us that the big bets may have already been made as to which way it will go. The Heat Gauge is just barely less than zero, so the bulls are apparently settled on breaking out to new highs on low volume… and the bears don’t seem to be the least bit interested in putting a stop to it (Waiting for higher prices, perhaps?). Of course the picture could change drastically once ATHs are reached, and while average market participants try to wrap their brains around the all too familiar “is all this bad news, really good news?” conundrum, big money managers will start to chase the market higher and higher no matter what… because they have to. -MD

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