An Opportunity Exists for Swing Traders
As a reminder of what I wrote yesterday because all the daily global fundamental analysis means little in range-bound markets: The sideways 182-189 range in SPY has lasted for three months. Long term investors tend to get frustrated in this environment but swing traders enjoy it because they get a tight market that swings from overbought to oversold.
Today the market is oversold and an opportunity exists for swing traders. Another down day will provide the market with a healthy short-term edge to the upside.
ETFs: DIA