ETF Trading with Larry Connors: Low Expectations and Upside Surprises
The market moved from oversold to slightly overbought with the 2-period RSI of our Country Fund ETF Universe closing at 65.12 and the Main Universe closing at 69.57. The rally yesterday was typical of a bear market rally, with the recent worst-performing (and most shorted) indices being the leaders (meaning the financials).
The market has already discounted tonight’s speech from President Obama. Expectations are low, so any surprises will move prices to the upside. Otherwise it’s a non-event.
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.