Back in mid-January in the middle of a seemingly endless trading range, TVO, our trusty volume oscillator, shifted up to positive values. And just at a point when many folks thought the market range was signaling the end of the MAGA rally, our GI (General Investment Strategy) flashed a buy signal… and SPY subsequently gained 6 points. Once again the oscillator swung up in mid-February and so far SPY has gained another 2 points. But this time the oscillator values are higher and pushing toward the green end of the spectrum (or “greed” zone), so the run this time around may be quickly nearing a close. When extreme shifts in volume occur, shifts in price will soon follow, and seeing how IO is already heading south, big institutions may already have their eyes on the exit signs. -MD
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