TVO Market Barometer 8/23/16

TVO MB 8-23-16

The trading plan among a lot of folks out there seems to be “sitting on hands” until after Jackson Hole on Friday. According to volume, though, that plan doesn’t seem to sit well with big institutions, as markets (especially SPY) are still accumulating in a month that many thought would be the demise of the bull market (as soon as “Dr. Doom” says we’re going down, it’s time to buy). TVO is continuing upward and IO is somewhat range bound, which means that consolidation is still alive and well… and we’re still long SPY calls from late June. -MD

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