ETF Trading with Larry Connors: Another Black Swan Event Day
Good Morning.
Another Black Swan Event Day. No one has ever seen a US credit rating downgrade. This is uncharted territory which no fundamental, technical, nor quantitative analysis has any historical
reference to guide it. Anyone guessing where the market is going today is doing exactly that – they’re guessing. In uncharted territory, prudence and safety is always the best course.
How the market closes today will tell a big story. If the market closes near breakeven to higher, it’s strong signal that last week’s selling is likely done at least for short-term. A sharply
lower close will signal that the market is beginning to factor in a second recession in three years.
Please use extra caution today.
The above is from Larry Connors’ Daily Battle Plan.
To learn more about the Daily Battle Plan – including access to Larry’s daily ETF trading signals, click here for more information.
And for more on ETF trading, be sure to visit us here to check out the book that Stocks, Futures and Options (SFO) Magazine called one of the best trading books of 2009: High Probability
ETF Trading: 7 Professional Strategies to Improve Your ETF Trading.
Larry Connors is founder and CEO of TradingMarkets.com.