Yellen is Going to be Flowing…
Another day and another ½% percent higher as Santa Claus appeared in the form of Janet Yellen yesterday. Should she take over the Fed, money is going to be flowing and finding its way into equities and real estate for quite some time. Unless something unexpected occurs, expect the bull market to continue its course. […]
US Markets Move to Overbought…
The US markets are overbought, especially QQQ and IWM. The rest of the world is neutral somewhat reflecting my commentary on Monday that their appears to be a global lag outside of the US. We saw this in the first 8 months of the year and should the US show any sign of weakness, we […]
Beware of Days Like This
Two “pause days” in a row. The market is neutral and there really is no short-term bias heading into the day. Days like today cause traders to take trades that have little to no edges and they often churn their accounts when they do this. It’s best to wait for the market to move to […]
A Pause Before Buying…
Yesterday was a traditional “pause day” after a large one day move. The market is slightly overbought and any larger move to the downside should be viewed as a buying opportunity. For today’s official Daily Battle Plan set-ups click here.
Global Markets, Commodities and the US Uptrend…
A textbook bull market rally from the pullback and the Daily Battle Plan Model Portfolio was able to buy a unit of SPY on Thursday’s swing low. If you took the signals you should have locked in your gains on Friday’s close. The market has changed over the past couple of weeks and we should […]
S&P Loss Coincides with Extreme Optimism…
Yesterday was only the 17th day of the year that the S&P lost more than 1% for the day. This coincides with a report of the extreme optimism that exists (meaning everyone is all-in)… A short-term 2-5% pullback would be healthy here and certainly normal within a longer-term bull market. This pullback will then push […]
The Pattern that Repeats Itself…
The same pattern that’s repeated itself throughout 2013 played itself out again yesterday and the market is slightly overbought. As I’ve mentioned, this bull market is being made up of the majority of the days moving less than 1%. Rising prices and low volatility is the hallmark of classical bull markets and this one is […]
How Close is the Next Rally?
The US is moderately oversold and most of the world is more oversold (the World Country Fund ETFs have a ConnorsRSI reading of 27.03 today). If the same pattern that’s repeated itself throughout 2013 plays itself out again, we’re within a day or so of a rally. Today’s Potential Opportunities on Further Pullbacks: Stocks PBCT, […]
Waiting on Europe….
No change from yesterday. Possible some news from Europe will pause the market for a few days but the persistent rise will continue barring an out of the ordinary event. Today’s Potential Opportunities on Further Pullbacks: ETFs SMH For today’s official Daily Battle Plan set-ups click here.
Friday’s Rally Moves Market Back to Neutral…
Friday’s small rally takes the US markets back to neutral from their oversold conditions. Low inflation, low interest rates, and an accommodating Fed will likely keep things moving ahead for a while. Last week’s pullback was small and a further pullback would be welcomed but in the meantime this market is likely going much higher. […]
Will this Pullback Pick up Steam?
The US markets are now oversold and with over 80% of the liquid country fund ETFs trading with ConnorsRSI readings under 30, the short-term pullback is global. The best scenario would be for this pullback to pick up some steam and last a few days in order to set up the next move higher. In […]
Global Markets Move into Oversold…
3 World Series in 10 years and that’s known as reversion to the mean for last century. Yesterday’s pullback was in-line with normal bull market behavior. A number of the global markets had much larger pullbacks and many are now oversold. (You can view the ConnorsRSI for ETFs here.) We’ll look to enter the US […]