Not a Good Sign Friday’s Rally didn’t Follow Through
Today the market is now neutral but it was not a good sign that Friday’s rally didn’t follow through. I’ve mentioned since July that the scope of the market is changing and with volatility quick to rise, and one day rallies being followed by declines, the market at a minimum is looking to correct at […]
This Week Should be Especially Interesting
Today the market is now slightly overbought. Friday morning I mentioned it was very good sign to see the market reverse higher intraday Thursday, and especially to see so many of the momentum stocks close higher. That movement was the tell that the buyers were stepping back in and it continued into Friday. The Daily […]
Jobs Report Will Drive Direction
Today the market is slightly oversold. It was very good sign to see the market reverse higher intraday and especially to see so many of the momentum stocks close higher. Today’s jobs report will drive direction and anything on-line with expectations will likely trigger a good rally.
The Trigger to Buy Will Come from VXX
Today the market is short-term extremely oversold. The one good sign I saw yesterday was that there was a flight to safety into Treasuries, utilities and other safe asset classes. This type of flight to safety is often a precursor to a short-term market bottom. The trigger to buy will come from VXX which has […]
Watch VXX
Today the market is short-term oversold. The breadth of this selling is leaving few sectors and ETFs showing any type of leadership. Also any growth related leadership is not appearing. In fact, many markets are behaving as if a global economic slowdown is occurring. I would have expected some end-of Q3 window dressing but that […]
Correlations Have Greatly Increased
Today the market is back to short-term oversold. Correlations have greatly increased and selling has been global with every liquid Country Fund ETF in the world (there are over 70) coming into the day with ConnorsRSI readings under 35. Another down day will provide a good opportunity to begin scaling into the ETFs which are […]
It’s Now Better to Wait
Today the market is back to short-term neutral. Because volatility has increased, it’s now better to wait for larger one-day down moves or two day in-a row down moves before entering oversold index positions. For today’s official Daily Battle Plan set-ups click here.
The Game has Changed from Where it Was
The higher volatility is now allowing for greater trading opportunities as many ETFs, especially SPY moved from oversold to overbought and back to oversold this week. Overall the change in volatility we began discussing in July is continuing to play itself out with the market looking more and more like 2007. I don’t believe we […]
The End-of-the Month Upward Bias Kicked In
Daily Battle Plan subscribers should have locked in their gains on SPY on yesterday’s close. The market is now back to neutral territory after yesterday’s rally from oversold conditions. The End-of-the Month upward bias in prices kicked in and may factor into prices over the next few days. Overall though, the rally was broad and […]
There are Two Ways to Approach this from Here
The market is getting into rare air territory with a broad spectrum of equity indices and their accompanying ETFs reaching single digit ConnorsRSI levels. The selling is global and it has covered the range of high volatility instrument’s to safer, lower volatility equity instruments. Overall though, as I mentioned last week, this type of selling […]
Closer to Levels Which Have Historically Seen Good Bounces
The market is now short-term oversold and opportunities are beginning to arise. I like that fact that yesterday saw fear as seen in the volatility products and as seen in the news stories. The pullback may go another day or so but it’s reaching closer to levels which have historically seen good bounces. Today’s Potential […]
1-2 more pause/pullback Days to Get Short-Term Oversold Conditions
Friday was a pause day from overbought conditions and it will take 1-2 more pause/pullback days to get the market to an attractive short-term oversold condition.