VIX Rises for 6th Straight Day…
The market is now oversold with a ConnorsRSI reading of 18.26. What’s interesting is to see the VIX rise for the sixth consecutive day, a fear reading that has been rare over the past two years. With so many stocks and ETFs oversold, the market is likely nearing a short-term bottom within a a day […]
Yesterday’s Pullback was Due…
Yesterday I mentioned the 2-perod RSI in QQQ and IWM had reached 99 on Friday and those levels as we know are unsustainable. Yesterday’s pullback was due and it leaves the market today in a slightly oversold condition. Please note that we jut published new research on trading Moving Averages. You can download our latest […]
Market Hits Extremes Before…
On Friday the 2-period RSI of QQQ and IWM reached intra-day readings above 99 which are unsustainable levels and the fast sell-off near the close was the results of the extremes the market had reached. After 8 straight weeks higher closing prices, combined with the market being overbought, a short-term pullback/pause is in the works […]
Market Closing Early Today…
The market is overbought, especially QQQ. With a ½ day of likely very low volume trading, we’ll wait until Monday to initiate any new positions. Have a great weekend! For today’s official Daily Battle Plan set-ups click here.
Holiday Trading is Upon Us
The market is coiled and a large short term move is nearing. With holiday trading upon us the move may occur early next week but whenever you see such drying up of volatility it often precedes higher volatility. Any unexpected news will trigger this move. Have a Happy Thanksgiving! For today’s official Daily Battle Plan […]
It’s Eerie Quiet Out There
It is eerie quiet out there. Big moves follow eerie quiet. Today’s Potential Opportunities on Further Pullbacks: ETFs EWJ For today’s official Daily Battle Plan set-ups click here.
Market Expected to Open Higher…
The market is overbought and called to open higher making it even more overbought. There is all good news out there and prices and extremely low volatility are reflecting this. At a minimum a pause/pullback day is now due and likely within a day or so. For today’s official Daily Battle Plan set-ups click here.
The Perfect Rally from Oversold…
That was a perfect rally from oversold conditions. If you’re trading with the signals from the Model Portfolio you should have locked in your gains on the close. The market is now slightly overbought. Volatility collapsed the past two days and has reverted to its mean from the early week spike. At this point there […]
Small Cap Hype Getting Crushed…
After three consecutive small down days the markets is now officially short-term oversold with SPY having a ConnorsRSI reading of 23.93 this morning. Ideally we’ll see a healthy 1-2 days of additional selling because the market got frothy. The good news is it has begun crushing the traders who speculate in the small cap hyped […]
10% Spike in VIX in Past 2 Days…
There’s been a 10% spike in volatility over the past two days and the market is now slightly oversold (ConnorsRSI reading of 33.59). The price movement in the US is muted but the fear has begun to rise as seen in the VIX and also seen in the Latin American countries which tend to swing […]
The “All In Crowd” Gets Hit…
Yesterday I wrote “the market is very close to pausing/pulling back for at least a few days as the stretch on a daily and weekly basis has gone a bit too far”. I don’t often make short-term market top calls (in the long run it’s a fools game) but as I pointed out in yesterday’s […]
Will The Fed Continue Its Free Cash Policy?
With volatility as measured by the VIX once again approaching 5 year lows, the market has reached a point where it’s going to need to pause … likely very soon. Go to the Analytics section on the TradingMarkets site and go to our Screener. Then sort all stocks by their 2-period RSI from highest to […]