TVO Market Barometer 6/24/15

TVO MB 6-24-15b

The rally attempt that began last Wednesday has quickly started to fizzle out, with many major indices plummeting once again below their 50 day moving averages. We saw a massive drop in volume on Monday (in what really should have been a more powerful follow through for the bulls), and even though today’s selloff put the HG at +67 there was practically no increase in overall volume, so it’s likely that more selling is to come. So does that mean it’s time to go short? Well, now that TVO has shifted towards negative values, we’ll soon be in a better position to go long. All we have to do is wait. -MD

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