Every liquid Country Fund ETF has a 2-period RSI reading above 70 today, with nearly half the universe showing readings above 90. As I mentioned yesterday, this could go on for a few more days (especially with the lightened volume due to the upcoming 3-day weekend) but a pullback is more than due and likely coming very soon.
The above is from Larry Connors’ Daily Battle Plan.
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Larry Connors is founder and CEO of TradingMarkets.com.