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.
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 […]
Should Be a Quiet Day
The market is fairly neutral heading into the final day of a very good month. Yesterday held in well and you can expect to see low volume today ahead of the holiday weekend. If you are looking for oversold markets look abroad. The ETFs of some do offer some possibilities but overall unless something out […]
News Will Likely Predominate Trading Today
The market is overbought with all three major indices closing at high 2 and 4 period RSI readings. Trading volume is usually light the two-days before the Labor Day holiday weekend and any type of economic or geopolitical news could provide an exaggerated move. This morning there’s a lot of focus coming from Ukraine and […]
Month-End Upward Bias In Full Force
The month-end upward bias I mentioned on Monday has been in full force the past two days. My only concern at this point is that yesterday saw unusual behavior with IWM rising significantly while SPLV (the S&P 500 Low Volatility ETF) dropped for the day. As we have discussed before, SPLV is made up of […]
Expect Continued Upward Buying Pressure
The month-end upward bias is now in effect. Since in 1990’s prices have historically risen in the final week of the month, especially when the market is above its 200 day ma so expect continued upward buying pressure here. For today’s official Daily Battle Plan set-ups click here.
One of the Very Few Things that Can Pause This
The bull market continues. One of the very few things that can pause this is a perceived shift in policy from Yellen. Otherwise the money will continue to flow into equities. For today’s official Daily Battle Plan set-ups click here.
Long Opportunities Today in Country Fund ETFs in Europe and Asia.
Even though the US is very much overbought, much of the rest of the world is neutral/slightly oversold. If you’re looking for long opportunities, they exist today in country fund ETFs in Europe and Asia. For today’s official Daily Battle Plan set-ups click here.