It’s a short week in the market, but there’s quite a bit going on… There’s Beige Book on Wednesday and to top it off on Friday, it’s op-ex and the inauguration on the same day. And along with the continuing saga of cabinet hearings, there are certainly enough potential catalysts to set things in motion. TVO has been slowly inching towards positive values which means our General Investment Strategy in on the verge of going into buy mode. IO, on the other hand, is a moon that’s close to full (waxing gibbous to be exact according to our new graphic), and if it stays that way (as it has been known to do for quite sometime before giving off steam), it’ll serve to keep our GI from being fully invested. Volume distribution from big institutions is still non-existent since the start of the year, and unless that changes, all the bears hoping for that post-inaugural slide may want to contain their enthusiasm for the time being. -MD
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