TVO Daily Market Barometer 3/10/16

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The Draghi effect was in full force as the narrow range inside day from Wednesday fulfilled its prophecy in Thursday’s session expanding the range in textbook whipsaw fashion. The continuation after the futures gap up took the early bird shorts by surprise, while the mid day dip below SPY 198 swept all the stops and shook out the range bound longs. It’s days like these that often leave folks who use stops scratching their heads. Overall volume spiked a bit, giving way to some distribution on the Nasdaq, leaving up/down volume on the big board just about even. -MD

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