Sideways 2014 Mode
The market is back to neutral and in other words remains in “sideways 2014” mode. The oversold conditions from Thursday were erased and SPY has ConnorsRSI in the 50’s range today. Ideally the rally on Friday will continue to follow-through as all pullbacks have for the past two years. Eventually this will come to an […]
Nothing Out of the Ordinary
On Wednesday I mentioned the VIX was approaching one-year lows and the risk of a jolt had increased. Some of that jolt was seen yesterday. The pullback in the major stocks that occurred was very normal. In fact, only 10 of the S&P 500 constituents come into today having a ConnorsRSI reading under 10 (and […]
Market Now Slightly Oversold
A two day pause in equity prices and the market is now slightly oversold. What is needed here is a solid move down for 2-3 days combined with a rise in the VIX. If this occurs, there will be ample opportunity for the next leg to move significantly higher. ETFs: IWM For a free trial […]
VIX Now Approaching 1 Year Lows
Yesterday was the pause day we often see after indices make new highs. The VIX is now approaching 1 year lows. Even though the longer term trend is higher, there is an increased risk of short-term jolt to the market because complacency is so high. Continue to trade the pullbacks with the knowledge that the […]
S&P and Dow Record Highs
A three point gain in SPY for Battle Plan subscribers and the market is now overbought. What makes this so interesting is that there is very little fanfare around the fact that the S&P and Dow made record highs. Usually this is lead story material; this time it’s a blip. Such reaction is longer-term positive. […]
As Neutral as it Can Get
We closely track just over 200 of the most liquid ETFs each day. We then look at the average ConnorsRSI reading of this universe to give us an overview of just how overbought and oversold the overall market is. Today, the market comes in with a reading of exactly 51.00 which is pretty much as […]
Respect Paul Tudor Jones
The market did little yesterday and the 2014 sideways market continues. One of the asset managers I greatly respect is Paul Tudor Jones. His 25+ year performance speaks for itself. Yesterday the Wall Street Journal reported the following: Paul Tudor Jones, a billionaire veteran of the industry and founder of Tudor Investment Corp., this week […]
Good Bull Market Behavior
All it took was one oversold day and the market rallied. This is good bull market behavior and ideally a follow-through day occurs today to further confirm the bull market remains strong. Today’s Potential Opportunities on Further Pullbacks: ETFs: IWM For a free trial to the Daily Battle Plan, click here!
Start to a Short-Term Pullback
The US markets had their expected start to a short-term pullback and are now slightly oversold. IWM is the most oversold with a ConnorsRSI reading at 16. Another 1-2 day pullback would be healthy. ETFs: IWM For a free trial to the Daily Battle Plan, click here!
The Ideal Scenario
The market is neutral coming into today and the VIX moved off its 3 month lows yesterday. The larger move was in VXST which rose over 9% so there’s at least a little bit of fear out there. The ideal scenario would be a healthy 1-3 day pullback but with so much money being put […]
Would Be Normal to See Some Weakness
The market is in neutral territory but with no real pullback in over a week, it would be normal to see some weakness, especially with VIX levels near 3 months low. Use a pullback today to begin accumulating long index positions. ETFs: QQQ For a free trial to the Daily Battle Plan, click here!
VIX Nearing Three Month Lows
The jobs report will dictate things today. The VIX is now nearing three month lows again and you could feel the complacency yesterday. The market is neutral/slightly overbought and we’ll remain patient for the next pullback. For a free trial to the Daily Battle Plan, click here!