TVO Market Barometer 3-7: We now return to our regularly scheduled buy programs
There was a bearish post from Tuesday night that said something like “How many points down is Cohn’s resignation worth?” Well, it turns out so far to be worth about 83 points on the Dow, 10 cents on SPY, and if you’re holding the Russell or the QQQ’s you got a pretty good bargain.
The Nasdaq logged another volume accumulation on Wednesday, so it’s back to business as usual as the big institutional 50 day MA buy programs return, already in progress… and so goes another reminder of how trading off the gut reaction of news will often leave you sick to your stomach. -MD
Want to read more? Join our list. It's free.
To view past positions check out our Trade History.
To find out what the indicators mean, visit our Market Volume Volume Barometer.
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.