TVO Market Barometer 7/28/16

TVO MB 7-28-16

Volume fell across the board in what turned out to be yet another picture perfect day of consolidation in the markets. Folks just can’t shake the feeling, though, that something’s going to happen… A shakeout before we move higher? Seems inevitable, but now with the Fed in the clear until September, as we wait for something, earnings catalysts keep racking up and a break of SPY 217 first is becoming the more likely course. TVO has dipped down to 2.9 and our general investment strategy for the longer term has shifted into buy mode. Our long term SPY options, however, have been well in the money since June (up over 75%) and although we don’t use any kind of stops or price targets, our exit strategy is well defined by volume action, which right now is steady as she goes. – MD

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The indicator descriptions in the above graphic represent general market sentiment. The actual TVO System signals and trades are listed below in the Members Area. To view, please . Not a Member? Join us.