TVO Market Barometer 7/16/15

TVO MB 7-16-15b

The short pause from Wednesday, that many folks saw as the start of possible retreat, was enough to fuel yet another gap and go session. This time (compared to Monday) overall volume did get a substantial boost, but the NASDAQ was clearly the host of the celebration with plenty of volume to back up the cause. SPY on the other hand didn’t quite score what would amount to accumulation on the volume scale, so it’s looking like the run-up is coming to a head just in time for options expiration. There are times as a trader where reason and common sense often test their boundaries. The fear of missing out is a strong force to be reckoned with, but it’s best to hold on to your plan and resist the temptation to follow the herd. While fantasies may seem to be coming true for some, for others shattered dreams are just as easily obtained. -MD

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