TVO Market Barometer 10/26/16

tvo-mb-10-26-16

If you were watching closely to Wednesday’s MB, you may have noticed a reversal in TVO’s oscillator values. Today’s IO has now followed suit with a shift back down towards zero (below zero is bullish for IO which is the of opposite of TVO where negative values are bearish). The reversal of both of these indicators just happens to line up with Apple reporting earnings, which as everyone knows is a pretty big event on Wall Street. Just a coincidence? Or is it that the volume and market internals are trying to tell us something (or confirm what some folks already know)? That’s for you to decide. It always seems that when many grow tired of a trading range, just about the time that you’re ready to accept and commit to it (or when everyone and their grandmother starts talking about it) that’s when it finally comes to end… one way or another. -MD

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