TVO Market Barometer 4/10/17

Much like the general market, TVO has been stuck in a range (sitting still refusing to give up its seat) at +1.4 for 3 consecutive days. Repeating oscillator values on TVO happen rarely, so a study of this kind of event historically wouldn’t say much about the resulting market direction. What we can say, though, is that unless the bulls can break out of the SPY 235 area with some volume conviction over the next few sessions, the values could swiftly sink below zero, which has the potential of shifting our General Investment Strategy (GI) into “sell” mode. Once we leave the bullish 0-3 area on the oscillator, it’s likely that big institutions are headed for the exits. And in the event of that scenario, to avoid getting dragged out later kicking and screaming, it’s usually best to follow their lead. -MD

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