TVO Market Barometer 12/7/15

TVO MB 12-7-15

The Monday morning flush today caused the up/down volume ratio to flip-flop from Friday. Other than shift things around a bit, though, very little was accomplished in terms of resolving the volume stalemate of the past few sessions. Slight distribution on the Nasdaq has finally bumped TVO slightly downward, however (despite another scorching day on the Heat Gauge), with overall volume staying put, the notion should already be clear at this point that the market is simply consolidating for its next move. You may not want to go all in on those SPY puts just yet. -MD

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