TVO Market Barometer 1/6/16

TVO MB 1-6-16

There are times when the market seems ruthless… and then there are times (few and far between) when the smoke clears and the market seems to present you with a gift. After 5 warm to hot days on the HG (including a 2nd long signal today), a 30 point futures drop on the S&P may be just the belated X-mas present the bulls have been waiting for. Our longs have taken quite a hit from last Thursday, but the discount on those calls at the open tomorrow will allow us to double up while adding minimal risk to our overall capital. TVO is still climbing, so while the bears have won the round so far, volume-wise the bulls are still in the ring. -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!