There is Nervousness Out There
The overall market is now moderately oversold. Yesterday’s selling was more traditional of a pullback with QQQ and IWM declining sharply and the higher quality S&P 500 stocks, rising for the day as seen in SPLV (S&P 500 Low Volatility ETF). There is nervousness out there and another 1-2 days further of a pullback will […]
High Yielding Stocks Oversold
The overall market is slightly oversold. The main selling on Friday came into the lower volatility, high yielding stocks and many stocks in that universe are now very oversold. Another down day will offer a good opportunity to begin scaling-into US indexes. Today’s Potential Opportunities on Further Pullbacks: ETFs: EWA For today’s official Daily Battle […]
Look at EWA
The market is neutral but yesterday’s reversal was very good to see especially in looking at the leaders. If you are looking for an oversold country fund ETF, look at EWA. We don’t often see Country Funds with ConnorsRSI readings in the 1’s. So this is a rare event (EWA also has options). Today’s Potential […]
The Next Up Wave Could be Substantial
Yesterday I pointed out the market was oversold and you could see from the large number of ETFs on the list that a bounce was due. Interest sensitive stocks are still adjusting to the prospect of higher rates while the consumer cyclicals are on a tear. All signs are pointing to expanded US growth and […]
Low Volatility Companies are Seeing a lot of Selling
The market is oversold and the bigger concern is that like in July, the safer, low volatility companies are seeing a lot of selling. This fact is partially due to many having high dividends and the market is adjusting to reflect the potential for higher rates. It may take a few more days to get […]
This Should Make for an Interesting Day
Apple Live Event Day is today and as it goes, so goes the Nasdaq (and possibly the entire market). The S&P is neutral, the Nasdaq and IWM are overbought, and many country funds are oversold. It should make for an interesting day. For today’s official Daily Battle Plan set-ups click here.
No Great Short-Term Edges in Either Direction
Friday morning’s slightly oversold market has now moved to Monday morning’s slightly overbought market thanks to Friday’s rally. At this point of time there are no great short-term edges in either direction and we’ll let the market play itself out today. For today’s official Daily Battle Plan set-ups click here.
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Many ETFs have Reached Early Stages of their Buying Zone
The market is mildly oversold and many ETFs as seen below have reached early stages of their buying zone. The list is fairly broad based so the pullback has been widespread. XOP IBB IJH IVV XBI VYM VUG VTI IWB VB UWM IWF IWM SSO SPY IWN SHV IWO IWS IYH MDY OEF EWZ Today’s […]
Another Day Down on QQQ will make it Attractive
No change in the overall longer-term outlook. On a shorter-term basis another day down on QQQ will make it an attractive scale-in buy. For today’s official Daily Battle Plan set-ups click here.
A Tale of Two Markets
A tale of two markets today. Momentum is overbought; yield and many high quality strong dividend companies are oversold. In 1999, long momentum/short quality played out for over a year before correcting in a bubble burst in 2000. Right now there is no bubble but when indexes like QQQ and IWM go weeks staying overbought, […]
Media Feeds in the Negativity and Prices Continue to Rise
The market remains in a typical bull market, quietly rising on a wall of worry. Markets like this over the decades have lasted quite a while as the media feeds in the negativity and prices continue to rise. The euphoric stage has yet to hit and until it does, the path of least resistance will […]