TVO Daily Market Barometer 3/8/16

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Markets sold off like clockwork at the close on Tuesday, and just as we alluded to in the previous post, the profit taking plan is now underway. The dip so far is on the low volume side of the coin overall, which suits the SPY 202 gap filler hopefuls just fine. Technically speaking we have yet to actually test the 200 dma, but plenty of bears out there are already calling it a failed attempt (you’ve got to at least touch the line, folks, not to mention that the Nasdaq isn’t even close to it’s 200 day line). TVO is still riding high, as mentioned in the weekly newsletter, so the bears may not want to place their bets too early. The pride before the fall may end up coming back for at least one more breath before all is said and done. -MD

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The indicator descriptions in the above graphic represent general market sentiment and are not the actual TVO System signals. To view today's active signals and options trades, please . Not a Member? Join us.