TVO Market Barometer 11/4/15

TVO MB 11-4-15b

The bears sank their teeth in a little bit during today’s session, however, overall volume didn’t budge… so the shorts may want to contain their excitement over this non-distribution day. There is still time before Friday’s employment numbers for them to try to stick a fork in this thing, but from the looks of TVO, our volume oscillator (which reversed toward positive values on Tuesday), this rally is far from done. Rate hike already priced in? It’s hard to reason otherwise at this point as October has been all about accumulation, and the fact that the laws of gravity are just too strong is an argument that the Fed is just not buying. -MD

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