TVO Market Barometer 12/16/15

TVO MB 12-16-15

‘Tis the season for colder days and the HG is at last starting to log more seasonable temperatures (today was a freezing -9 after yesterday’s -7). So after nearly a month of nothing but distribution, we finally see some accumulation creeping in. More is needed, however, to knock our longer term oscillator in the other direction. In any case, at -7.2 there’s only some much room left on the scale, so the likelihood of more buyers ultimately stepping in soon is steadily increasing. The timing of it? Well, just like holiday decorations, TVO doesn’t stay decked out in red for very long. -MD

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