Markets Soar Into Overbought Territory
Every liquid Country Fund ETF is overbought today after the Feds move yesterday. It’s going to take a few days for the many of trillions of dollars which were situated for a tightening scenario to get their models readjusted and this will temporarily push prices higher. But the market is so overbought now that the move will be short-term before a short-term reversal occurs.
For those of you who are long, especially via the many S&P strategies that are inside The Machine, this remains a great run and we’ll continue to enjoy it. The VXX trading section of the Daily Battle Plan continues to remain short VXX.
Today we’ll look to go long an equity index should a sudden reversal appear.
The above excerpt is from Larry Connors’ Daily Battle Plan – A professional-grade trading information service that will help you understand the quantitative metrics behind each day’s market conditions and how they point to selective strategies for high-probability trades.
To take a free trial to Larry Connors Daily Battle Plan and receive his market insights and ETF trade set-ups for the upcoming trading day, please click here.