TVO Market Barometer 12/1/15

TVO MB 12-1-15

Sorry bulls, but today is not the accumulation day you’re looking for. Considering the unusually large volume we had yesterday, though, the bears may want to hold off on calling today’s breakout a trap until further notice. TVO gave us a long signal Monday and, according to a chilly HG today at -4, a lot of other folks also got the memo. Shorts are standing by, so at the very least a shakeout may be in the cards. Of course, a wave of accumulation volume could hit if we break SPY 211.66… but that’s another story. -MD

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