TVO Daily Market Barometer 4/5/16

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Tuesday’s up/down volume ratio was about the same as Monday’s (somewhat sweltering on HG… although it’s below freezing in Boston right now), but overall volume got a boost instead of a drop as in the previous session. It looks like the big boys are positioning themselves on the cautious side before the Fed, but they haven’t started to sell the farm like all the “recession-calling” bugs have been chiming in about lately. Why do folks with so-called high credibility always act so confident when it comes to their collapsing market predictions? Well, for one thing it’s easier to forgive and forget the doomsayer than the optimist, because “all’s well that ends well” and with the relief that we avoided the crash most investors are happy, if not down right ecstatic (except the shorts, of course). If things turns out bad, though, the optimist will get burned at the stake for leading everyone on. No one wants to be that guy. When the crash is really close at hand, however, there always seems to be plenty of those folks to go around (remember ’08?). So when the party really gets rolling, always take heed. -MD

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