ETF Trading with Larry Connors: Capitulation or Continued Selling?
Good Morning.
Capitulation occurred in the morning and the reversal led by the Nasdaq was more than overdue. The market is still very oversold and a continued rally would be normal.
Yesterday I mentioned the 2-perid RSI was at its 4th lowest level ever on the SPY along with showing the returns for 1 & 3 days. Here is how it looks 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.