TVO Market Barometer 6/6/16

TVO MB 6-6-16

The Fed chair spoke on Monday and as far as a rate hike, she didn’t say much… But apparently “not much” is just what the market wanted to hear to continue to lift prices back towards all time highs. The volume lately has been telling a different story, however, as this is now the 4th straight session of declining overall volume… So perhaps the big boys are putting less faith in the “bad news is good news” approach to investing than it would appear on the surface. All 3 of our oscillators are now flashing sell signals, so at the very least this may be a time to take some profits or lighten the load. The chase is on, though, so shorts may want to hold out until some of the real buying euphoria kicks in. -MD

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