ConnorsRSI

The situation in Syria has now created an unknown which is going to take volatility higher today in what is usually a very quiet week. Most of world markets continue to decline (with or without Syria) while the U.S. remains well above its 200-day ma. It looks like we’ll have the opportunity to capture a…    [Read More] 

Friday I mentioned that a follow-through day would be helpful to reaffirm the U.S. bull market. Therefore, it was good to see the upward move. Unless something out of the ordinary occurs, this week is going to be a quiet week, especially later in the week because of the weekend holiday. The market today is…    [Read More] 

With so many ETFs oversold coming into yesterday, especially the high number of country fund ETFs I mentioned, yesterday’s bounce was no surprise. Today is the next to last Friday of the summer and as we saw last Friday, unless something out of the ordinary occurs, today will be a light day. Ideally the upward…    [Read More] 

Today 65% of the liquid Country ETFs are trading under the 200-day signifying a global bear market.30% of the Country ETFs have ConnorsRSI readings under 10 today, something we have yet to see since creating ConnorsRSI. As we saw in 2008, bear markets can cause havoc and that’s the way it’s playing out in a…    [Read More] 

Yesterday I mentioned “the last time the market has had a 2-day cumulative ConnorsRSI reading (the past two days added together) of under 30 was on June 24 and the Fed proceeded to step in and launch a 5 week upward move”. Cumulative ConnorsRSI levels under 30 tend to do a good job of identifying…    [Read More] 

The last time the market has had a 2-day cumulative ConnorsRSI reading (the past two days added together) of under 30 was on June 24 and the Fed proceeded to step in and launch a 5 week upward move. Whether this occurs again remains to be seen but no matter how one measure this, the…    [Read More] 

The market had its 1-2 day sell-off we were looking for late last week and it’s now oversold. After the Dow put in its worst week of the year combined with bond prices plunging, I would have expected to see more extreme oversold conditions coming into today. But the average ConnorsRSI reading on all the…    [Read More] 

The U.S. market is again slightly oversold while most of the world remains overbought. There’s a good chance that the global markets will move in-line with the U.S., especially with the U.S. futures pointing lower this morning. A healthy 1-2 day global sell-off is what the market needs right here and it will then provide…    [Read More]