TVO Market Barometer 7/29/15

TVO MB 7-29-15b

The market staged an incredible 2 day bounce that seems to have taken both bulls and bears a bit by surprise (but it just wouldn’t be a shakeout if anyone saw it coming). In the good old days, the market was able to shakeout weak hands much quicker and easier, but nowadays those swift down moves that worked in the past are just too easy to spot, so market makers have to resort to much more extreme measures (like a multiple day sell-off) to take out the stops and do their thing. By tracking volume, the Heat Gauge helps us to stay one step ahead of all that… but while HG was getting all the attention this week, our good old TVO has started to reverse and is now back to negative values. We’ll be watching closely for a long signal over the next week or so… that is if the bulls can keep things rolling. -MD

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