ETF Trading with Larry Connors: Oversold Below the 200-day Moving Average
The market enters today oversold with the 2-period RSI of our Country Fund ETF Universe at 14.94, and at 12.29 on our Main ETF Universe. The oversold condition is below the 200-day moving average in nearly all the ETFs which means any bounce that’s coming could last for a few days. But until more ETFs resume their longer term uptrend, the path of least resistance remains down.
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.