TVO Market Barometer 3-13: Which gap will fill first?
Anyone who has ever watched the Apprentice knows (Spoiler Alert) that every week in Trump Tower, you could count on someone getting fired (it was the best part of the show) and now in the White House, things haven’t changed a bit. And on Tuesday the consensus was that the market basically reacted as if they’ve seen the show a few times too, but on the big board institutional investors were clearly motivated by something, as distribution took hold.
TVO and IO (our volume and issues oscillators respectively) are somewhat at odds, with issues at very overbought and volume showing oversold. The two tend to reflect market sentiment, but at different time frames… and both have now reversed and are heading in opposite directions.
TVO is heading up towards positive values, which favors the bulls in the long-term, while IO seems to have hit a peak and is now heading down. Looking at SPY from a chartist’s perspective, and just like you can count on more folks getting fired, (here comes another spoiler) both gaps will soon be filled, but it looks like the 275 one will fill before 280. -MD
Want to read more? Join our list. It's free.
For the full rundown on today's active signals and options trades, please log in. Not a Member? Join us today.
To view past positions check out our Trade History.
To find out what the indicators mean, visit our Market Volume Volume Barometer.
To learn more about market volume and how we trade, find us on Twitter (@TradingLicks) and StockTwits!
The indicator descriptions in the above graphic represent general market sentiment. The actual TVO System signals and trades are listed below in the Members Area. To view, please Login. Not a Member? Join us.