Four Sector ETFs Starting the Week Oversold
At the PowerRatings web site, users can set up customized portfolios that allow them to gain unique market insights. A portfolio could include stocks on a trading watch list or a group of ETFs that provide a broad overview of the market. The portfolio below includes thirteen high-volume SPDR sector funds. SPDR S&P Retail ETF […]
Special Invitation to Daily Battle Plan Readers
Good Morning. The market coming into today is neutral and there are no substantial short term edges. Ideally we wait for larger edges to occur and therefore it’s best to pause a day until those edges appear. Have a great weekend! For a free trial to the Daily Battle Plan, click here! Special Invitation: Join […]
Scale In Trade to Inverse Gold ETF Could Benefit From Potential Decline in Gold
SPDR Gold Shares (NYSE: GLD) has started the year with a gain of 3.16% and is approaching an overbought level. An inverse gold fund that gains when gold declines, PowerShares DB Gold Double Short ETN (NYSE: DZZ), has fallen to an oversold level with a PowerRatings of 8. PowerRatings are based on the relative strength or […]
Trade the Core Price Action
The SPX resolved its ST/OB condition by making a 1768 low at the 50DEMA on 12/18/13, and then advancing +4.6% to a new bull cycle high of 1849.44 on 12/31/13 to close +30% [29.6] on the year at 1848.36. Congrats to the Fed, or should it be said the master of the Ponzi Scheme. The […]
Emerging Markets Offer Opportunities…
Good Morning. Yesterday was a normal follow-through day from Tuesday’s rally that came from oversold conditions. The US is overbought today and a pause/pullback is expected within a day or so. Emerging market ETFs offer the best opportunities on the short side, especially if they continue to rally. For a free trial to the Daily […]
Four ETFs Oversold While Market Stuck in Neutral
With a gain of 0.54% yesterday and a two-day gain of 1.63%, SPDR S&P 500 (NYSE: SPY) is now at breakeven for the year. Despite the large rally over the past two days, most stocks are ranked neutral by PowerRatings. Only one stock (Sprint (NYSE: S)) is oversold with a PowerRatings of 8 or higher. […]
Stock Market Closed on Martin Luther King, Jr. Day
The US Stock Market will be closed on the following date: January 20, 2014 Please note that Larry Connors will be hosting a free preview webinar for the TradingMarkets Summit Club on Monday Jan 20, 2014 at 1pm ET. You can register here if you would like to learn more. Upcoming Stock Market Holiday Calendar […]
In An Overbought Market, Real Estate ETF Offers a Potential Buy
ProShares UltraShort Real Estate (NYSE: SRS) is among the few oversold ETFs offering a potential buying opportunity. Like most other asset classes, real estate has become overbought. SRS is an inverse fund that gains when real estate declines. While stocks are generally overbought, inverse funds of major stock market indexes are not yet oversold. SRS […]
All is Well Again in the World…
Good Morning. And all is well again in the world. The Daily Battle Plan Model Portfolio closed out its long position in DIA it purchased on Mondays close. The overall market is now slightly overbought and we’ll wait for the next pullback. For a free trial to the Daily Battle Plan, click here!
Financials Oversold Ahead of Key Earnings Reports
JPMorgan Chase & Co (NYSE: JPM) and Wells Fargo & Company (NYSE: WFC) will report earnings today and both stocks are oversold on a number of indicators. Oversold stocks can react bullishly to small surprises and earnings reports could be the catalyst for a large move. Direxion Financial Bull 3x Shares (NYSE: FAS) is a […]
World Markets Slightly Oversold after Sell-off
Good Morning, The world markets have moved from overbought to slightly oversold (especially the US) after yesterday’s sell-off. Some ETFs are at extremes and offer good opportunities and early high probability set-ups. Ideally the market will pull back 1-2 more days as that increases the odds of a larger move higher but scaling-in is the […]
World Indices Overbought…
Good Morning. Outside of the Dow and Japan, most of the world indices are overbought with the ConnorsRSI reading on our Country Fund ETF Universe showing a reading of just above 75. Some of the overbought markets are bear market rallies in ETFs under their 200 day. Sometimes this is an early sign that the […]