Broad-based Buying Anticipates Good News from Europe
The week of reckoning for Europe is here and Friday the market began anticipating a positive outcome. What was somewhat interesting about Friday’s rally was that the more speculative stocks (the higher beta stocks) moved no greater than the larger averages which means that real money was put to work as opposed to it being a short-covering rally. Overall though, as Europe goes so will the market and it’s now just a matter of waiting out the next 48-72 hours.
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