TVO Market Barometer

Trading Licks

TVO MB 5-8-15b

Friday’s employment number rang true for the powers that be, and the Dow and the NASDAQ gapped right back up to the familiar 18k-5k levels, respectively. So do we fill the gaps? The Heat Gauge was around -7 which indicates decent up-volume, but overall volume continues to drop and the bulls may need a second wind. Of course filling the gap is good for both bulls, who can finally get in at the low prices they’ve been complaining about, and bears, who love to say I told you so even if it’s just for a few hours. 2 or 3 solid days of volume accumulation should give us an oscillator reversal, otherwise the see-saw market may have another ride to go. -MD

For more on market volume, The TVO System, or how to trade options follow me on Twitter (@TradingLicks) and StockTwits!

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