Long US/Short the World
Two very different markets remain out there; the US vs. the rest of the world. US index prices remain relentless. Most of the rest of the world remains in decline with over 35% of the Country Fund ETFs showing ConnorsRSI readings under 25 coming into the day. Until proven otherwise, you go where the money […]
“Never Short a Dull Market”
And on the 17th consecutive day of the S&P closing above its 5 period moving average the index again closed higher… There is a long standing phrase to “never short a dull market” and we are living through the why’s of this. Until something “exciting” occurs, the path of least resistance remains higher on a […]
Buying Pullbacks Remains the Best Course of Action
As I mentioned last week and again yesterday, with little to no major news on the horizon, we’ll likely to continue to see a slow climb higher until the market has something concrete to focus on. Buying any pullbacks in the US remains the best course of action until noted otherwise.
Buying any Pullbacks in the US Remains Best Course of Action
The US market remains slightly overbought while many of the world markets are oversold. With little to no major news on the horizon, we’ll likely to continue to see more days like last week with a slow climb higher until the market has something concrete to focus on. Buying any pullbacks in the US remains […]
If Global Deflation Continues, It Runs the Risk of Reaching US Markets
Looking at the world markets this morning tells two very different stories. The US is in another bull move and overbought. Much of the rest of the world is in a strong decline with 30% of the Country Fund ETFs quite oversold with ConnorsRSI readings under 20. In the past most times the world catches […]
The Short-Term Path of Least Resistance is Again Higher
With no reason for markets to go down, buying is flowing in and this may prove to be especially so in high beta stocks as hedge funds and many asset managers use these stocks as a way to catch up to the index returns (most funds are training the averages – those who have mandated […]
Money can be Positioned
The market is neutral but with last night’s elections results in, money can be positioned. Any pullback in SPY should be viewed as short-term buying opportunity.
We Can Expect to See a Large Move Tomorrow
Yesterday’s quiet movement was as expected heading into today’s election. Implied volatility rose as asset managers purchased insurance ahead of today’s results. We can expect to see a large move tomorrow based on tonight’s final results.
Tomorrow’s Elections are on Everyone’s Radar
The market is now overbought and due for a short-term pause/pullback. Tomorrow’s elections are on everyone’s radar and there will likely be two days of quiet trading ahead of this major event.
The Month End Upward Bias is in Full Force
Slightly overbought but the overnight actions from Japan are setting off a global rally. The month end upward bias is in full force and right now the path pf least resistance is again higher. Today should close higher and a reversal should be viewed as a short term opportunity on the short side for early […]
A Pullback Today will Provide a Good Opportunity
Slightly oversold, A further pullback today will provide a good opportunity to begin scaling-into SPY. For today’s official Daily Battle Plan set-ups click here.
Right Now the Opposite is Occurring
Yesterday was the continuation of the buying after Monday’s traditional pause day. The end-of month upward bias in prices in place along with aggressive buying from hedge funds who are desperately trying not to have their worst month since 2012 created a buying panic that led to yesterday’s rally. The Fed announcement and Tuesday’s mid-term […]