TVO Market Barometer 6/9/15

TVO MB 6-9-15b

Buyers finally stepped up to the plate today (primarily on SPY) to narrowly save the session from becoming a complete day of distribution. The NASDAQ did not escape the same fate, as down-volume was nearly double over up for the second day in a row, but this time on increasing overall volume. Our trusty oscillator has been keeping tabs on all the action, and today’s mixed volume data was enough to nudge the value up towards zero, which, if it keeps going in that direction, is surely good news for the bulls… regardless of what price it closes at, or whether the doji is red or green, or whether levels get broken or tested… because more volume is really the only missing ingredient this market desparately needs right now to stay moving. All the rest is just icing on the cake. -MD

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