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 […]
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.
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 […]
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 […]