TVO Market Barometer 6/3/15

TVO MB 6-3-15b

While nobody really seemed to notice today, the market squeezed through another day of accumulation, pumping up the volume just enough to send TVO turning back around again towards positive values. This is the only time since late April that we’ve had 2 days in a row of any volume significant institutional buying, and today it was the NASDAQ’s turn as up-volume there more than doubled, while elsewhere the up/down ratio stayed about even. This somewhat good news for the bulls should be put in perspective, however, in that the only time all the indices can seem to agree on a particular volume direction within the same session lately is when things head decidedly south. So keep an eye out for the bears, for they’re surely banking on that lack of agreement, and they’ll do anything to make sure it stays that way any chance they get. -MD

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