TVO Daily Market Barometer 4/11/16

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The kickoff to earnings season with Alcoa leading the way is never a lackluster event on Wall Street, and today was no exception. It was another roller coaster ride almost identical to the one we took on Friday, except under the hood the volume stats were much different. Friday’s volume fell across the board (stripping the bears of their highly desired “third distribution day”), while Monday was divided… The Nasdaq volume fell as SPY charged ahead, manging to log an accumulation day even though the index was down price-wise. We’re long SPY calls and will look to add if things go south in the near-term. -MD

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