TVO Market Barometer 9/26/16

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The market has rather successful pastime of calling elections (If stocks go up, the incumbent party almost always wins), but what about the first debate performance? Looking at the futures from 8:30pm on it would seem that Wall Street’s chosen candidate made a pretty good showing. But even during Monday’s trading session, lack of volume during the pre-debate drop (-2% overall) can also be seen as another devil in the details (Shakeout before the breakout anyone?). Regardless of which devil the folks are rooting for, according to volume (and TVO values, which on Friday started to reverse back towards zero), the tides of the recent 5 point pullback on SPY are already starting to shift in the long-term. -MD

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