TVO Market Barometer 12/15/15

TVO MB 12-15-15

The big day is finally upon us and may the force be with you… uh, I mean may the Fed be with you, or at least on your side. It would seem that the force of the bulls has finally awoken (-7 on the HG is a rather big chill), but a -6% drop in overall volume means that big institutions (even though their year-end, pre-op-ex portfolio rebalancing has already been well underway) are still somewhat holding their breath until tomorrow at 2pm before reestablishing their longs. We’re still long SSO and with TVO now at -6.6 (the oscillator never drops below -9.9), a reversal and a chance to add is close at hand. For now, however, our short-term swing from Monday has run its course, so we’ll be selling our SPY calls at the close tomorrow. -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!