TVO Market Barometer 12/14/15

TVO MB 12-14-15

The interesting thing about today’s SPY hammer (a sight for sore bulls eyes) is that even though it turned out green, the bears still managed to dish out a bit more volume distribution. This has knocked TVO into “panicky” mode… and we’re not referring to any last-minute holiday shoppers here (far too early), so we must assume that this means there are still some cautious Fed fearing folks out there. If we look a bit more under the hood, though, we can see from HG at +38 (down from +87 yesterday) that declining volume is declining, but the bulls are still not running yet. -MD

For more on market volume, The TVO System, The Heat Gauge (HG), or how to trade options follow me on Twitter (@TradingLicks) and StockTwits!