ConnorsRSI

Even though the overall global markets are overbought with the ConnorsRSI reading of our Country Fund ETF Universe above 70, the U.S. is beginning to pullback and QQQ is the most oversold Country ETF today. This has allowed the Daily Battle Plan Model Portfolio to gain both long and short exposure at the same time […]

The market continues to absorb less than stellar news on both the earnings front and the economic front as the cash glut continues to find its way into equities. The overall markets around the world today are overbought and will likely open up even more overbought. Ideally we’ll see a 1-3 day reversal, something that […]

The market absorbed bad news from two major companies and the S&P rallied back to even which is very typical bull market behavior. Today the global markets are in neutral territory with the Country Fund ETF Universe showing a ConnorsRSI reading of 52.65. Making You a Better Trader To improve, you must continuously learn… I’ve […]

Last night I read the nightly market report I receive from BNY/ConvergEx which gives us all a better idea of where this rally is coming from. According to the report “over the first 12 trading days of the new quarter, investors have added some $24.4 billion of new assets to ETFs which focus on U.S. […]

Yesterday I mentioned that bull markets will often pause a few days after being overbought, and that pause is all that’s needed before the next leg higher occurs. The last three days of sideways movement in the US has brought the market back to neutral conditions. The bias remains higher in the US but there […]

Bull markets will often pause a few days after being overbought, and that pause is all that’s needed before the next leg higher occurs. The last two days of sideways movement has brought the market back to normal and the ConnorsRSI reading on SPY is under 35. Another day of this pause/pullback may yield us […]

QQQ has now risen 14 days in a row and all else is normal in the world. Everyone is waiting for this market to break, myself included, but as I mentioned yesterday bull markets can remain overbought for quite some time. The excess cash out there is under full pressure to be put to work […]

As we have seen a few times a year since 2009, overbought markets in bull markets can stay that way for extended periods of time and that is what is occurring now. Panic buying (money on the sidelines that had to get invested) occurred on Thursday and again in the last 15 minutes of trading […]