TVO Market Barometer 6/5/15

TVO MB 6-5-15b

Last month’s job report was good… which was bad, but ultimately it’s really all good, right? Either way markets are not finding it easy to walk a straight line on this one. Volume-wise things on the whole are starting to pick up a bit, but up/down volume stayed neutral on Friday (Heat Gauge was at zero) with a slight nudge towards the upside even though SPY took a decisive plunge through the 50 day. So if the buy the 50 day MA theory stands true, then that means big institutions finally did pick up the ball, however, their pace doesn’t quite have that much traction yet… although don’t tell that to the folks running with the Russell at this point. The bulls will still be looking for their confirmation day this week if this thing takes off. -MD

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