TVO Daily Market Barometer 3/7/16

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Volume sank nearly 10% across the indices on Monday, setting the stage for the first round of somewhat overdue profit taking. But isn’t an inside day supposed to be bullish? Well, perhaps a rest is in order before the final push through the 200. The way that TVO is looking right now, if that event happens anytime time soon the bullish momentum can only last so long. One good flush though, could reset the clock for the time being giving folks that SPY 195-196 pullback they’re all looking for. Whether they see the dip as a gift or end up running for the hills remains to be seen. -MD

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