It’s Now Better to Wait
Today the market is back to short-term neutral. Because volatility has increased, it’s now better to wait for larger one-day down moves or two day in-a row down moves before entering oversold index positions. For today’s official Daily Battle Plan set-ups click here.
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The Game has Changed from Where it Was
The higher volatility is now allowing for greater trading opportunities as many ETFs, especially SPY moved from oversold to overbought and back to oversold this week. Overall the change in volatility we began discussing in July is continuing to play itself out with the market looking more and more like 2007. I don’t believe we […]
The End-of-the Month Upward Bias Kicked In
Daily Battle Plan subscribers should have locked in their gains on SPY on yesterday’s close. The market is now back to neutral territory after yesterday’s rally from oversold conditions. The End-of-the Month upward bias in prices kicked in and may factor into prices over the next few days. Overall though, the rally was broad and […]
There are Two Ways to Approach this from Here
The market is getting into rare air territory with a broad spectrum of equity indices and their accompanying ETFs reaching single digit ConnorsRSI levels. The selling is global and it has covered the range of high volatility instrument’s to safer, lower volatility equity instruments. Overall though, as I mentioned last week, this type of selling […]
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You are invited to attend a free webinar we are holding this Wednesday, October 1 at 1 pm ET. Sign up now and you’ll be taught the exact rules for our VIX Stretch Strategy, a strategy which has correctly predicted the direction of SPY over 74% of the time from January 1995 – August 2014.
Closer to Levels Which Have Historically Seen Good Bounces
The market is now short-term oversold and opportunities are beginning to arise. I like that fact that yesterday saw fear as seen in the volatility products and as seen in the news stories. The pullback may go another day or so but it’s reaching closer to levels which have historically seen good bounces. Today’s Potential […]
1-2 more pause/pullback Days to Get Short-Term Oversold Conditions
Friday was a pause day from overbought conditions and it will take 1-2 more pause/pullback days to get the market to an attractive short-term oversold condition.
Leadership in Sectors that Normally Lead Bull Markets
The market is overbought and we’ll likely see a pause/small pullback within 1-3 days. The level of bullishness is very high (even higher than June) but outside of that the market is seeing leadership in sectors that normally lead bull markets. For today’s official Daily Battle Plan set-ups click here.
Few Edges in the Major Indices Today
The market is slightly overbought and yesterday’s Fed decision was in line with expectations. There are very few edges in the major indices today and we’ll wait patiently for the markets next move (it always comes). For today’s official Daily Battle Plan set-ups click here.
September Market Symmetry
In the previous commentary I said the current long term time symmetry date was in the first week of September, and that you could read it in the Trading Service commentary for 8/25/14 with a free 1-week trial to the Service. I have included several excerpts of that commentary today. “Next week is month end […]
The Fed will take Center Stage Today
That was a healthy rally yesterday and it allowed the Daily Battle Plan Model Portfolio to lock in gains in SPY on the close. The market is slightly overbought and the Fed will take center stage today. Obviously the main movement for the day will reflect their decision. For today’s official Daily Battle Plan set-ups […]