There are Many Oversold ETFs
Yesterday’s pullback was more than anticipated. I mentioned we were in rare air with overbought conditions coming into the day with over 100 S&P 500 stocks having 2-period RSI readings above 95. Such overbought conditions, especially after three-day weekends are hard to sustain and markets need to pause/pullback to get back to equilibrium. Today there […]
Market is Due for a Pause/Pullback
We’re in rare air overbought conditions coming into the day with over 100 S&P 500 stocks having 2-period RSI readings above 95. Outside of the interest rate sensitive stocks, the market is due for a pause/pullback within a day or so. Today’s Potential Opportunities on Further Pullbacks: ETFs: IYR For a free trial to the […]
Expect a Typical Summer Bull Market Day
Today the market is moderately overbought but with the holiday weekend upon us, trading will be very light. Unless something out of the ordinary occurs, expect a typical summer bull market day and enjoy the three day weekend! For a free trial to the Daily Battle Plan, click here!
Both Pullback Buyers and Breakout Traders Being Rewarded
All it took was a very brief pause in the buying to set off yesterday’s fireworks. The last few minutes wasn’t as pretty but the market heads into the last two days before the 4th with a nice head start. Today the market is moderately overbought and volume will likely to dry up here as […]
The More Interesting Battle
Day one of the second half of the year and with the VIX rising yesterday protection has begun to be put in place. We’ll see how far it goes. The more interesting battle (and the battle that will dictate where prices end the year) is being waged in the bond market. There was unanimous consensus […]
Potential for Movement
The S&P is now up 2.75% for the month and they were going to make sure those gains stuck in the last 30 minutes of trading on Friday. Magically levitating prices near the close on a Friday is the hallmark of all good bull markets including this one. Today the market is slightly overbought and […]
Good to See Yesterday’s Rally
Today the market remains in neutral territory. It was good to see yesterday’s rally from the lows. Another day of rallying will lead to exit signals from index positions which were bought on Tuesday’s close. For a free trial to the Daily Battle Plan, click here!
Another Day of Rallying Will Lead to Exit Signals
Yesterday’s market rally was in-line with behavior seen from oversold conditions. Today the market is in neutral territory with a ConnorsRSI reading in the mid-60’s. Another day of rallying will lead to exit signals from and index positions which were bought on Tuesday close. For a free trial to the Daily Battle Plan, click here!
It Appears that Everyone is “All-In”
A long awaited pullback and now the market is slightly oversold. It appears that everyone is “all-in” as far as their risk tolerance stands so it should be interesting to see how this pullback bounces. As the bull market goes deeper, a 3-5% correction would be hard for too many people to handle and it […]
Approaching Slightly Oversold Levels
The US indexes have paused and are approaching slightly oversold levels. A down day today in the indexes, especially SPY, will offer a good opportunity to trade. On Thursday I’m holding a free webinar on how to trade S&P 500 stocks. If you would like to attend, please click here. Today’s Potential Opportunities on Further […]
The Top 20 Trading Strategies Series – Final Time Taught to the Public: Short Selling and Put Buying Strategies…Saturday, September 6
Beginning in 2015, Larry Connors will be managing money on a full-time basis. Therefore, this summer will be the final time that he will be teaching his strategies and research to the public. Over the past 20 years, Larry has developed an enormous library of trading and investing research and indicators. Now, he has chosen […]
A Good Opportunity in SPY
The overall world markets are neutral but the US has divergences in SPY (ConnorsRSI of 32) and IWM (ConnorsRSI of 81). A down day today in SPY will offer a good opportunity to trade. Today and Thursday I’m holding a free webinar on how to trade S&P 500 stocks. If you would like to attend, […]