TVO Market Barometer 9/3/15

TVO MB 9-3-15b

The folks that follow this blog regularly may have noticed the little oscillator needle on TVO slowly creeping down towards “Fear” over the past couple of months. In or near the red zone on the wheel is where monumental reversals have occurred (including the giant V bottom from last October), and we’re just about there… So at -6.3 our volume oscillator has reversed and we have a buy/long signal. Unlike our shorter term HG swing strategy, the TVO system hold time is about 6-10 weeks. The immediate outlook on SPY is still one the bears would like to see (and perhaps also the bulls who missed the chance to buy in the 180s last week), but further on up the road we’ve got a lot of room to run as the needle starts to head back towards green. -MD

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