Deal in Europe Boosts Race to the 200-Day
The race back to the 200-day moving average is in full force as Greece and Europe are not going to implode and the heavy short/large cash positions positions coming into the past two weeks are now desperately needing to buy. The market has had two months of combined double-digit losses (August and September) tied into this news, so this reversal is good news longer term.
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