Apple, Europe and the Dow’s New Triple-Digit Normal
The triple-digit days for the DOW are now becoming the rule more than the exception.
In spite of yesterday’s rally, the market is in neutral territory today with the 2-period RSI of the Country Fund Universe at 61.92. Apple’s earnings were a surprise after the close, but the muted response in the futures tells the bigger story – it remains all Europe for now. Three more trading days of the rumors and then the verdict will come in over the weekend. The brokers don’t want this nonsense to end – this is when they make their money. For everyone else, Sunday can’t get here soon enough.
The above is from Larry Connors’ Daily Battle Plan.
To learn more about the Daily Battle Plan, click here for more information.
Larry Connors is founder of TradingMarkets.com