TVO Market Barometer 10/28/15

TVO MB 10-28-15b

At first glance it would appear that today’s hawkish Fed rate announcement came as a surprise, but volume stats suggest otherwise. Since 10/21 (When our HG gave us a long signal) there were 2 solid days of accumulation, but Tuesday’s spike in down volume gave the impression that the “December Possibility” cat was already out of the bag (believe me someone always knows). Any big boys not on board with the plan took the opportunity to bail… a stealth shakeout on SPY and the Nasdaq if you will, leaving todays fireworks primarily an HF algo display at best. The big “W” (soon to be known as the “WTF” pattern) has run its course and TVO has turned toward positive once again. And with year-end FOMO just about to kick in, looks like the party is just getting underway. -MD

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