Europe-Driven Market Remains Volatile Environment for Traders
The overbought market condition coming into yesterday was taken care of with the 2% decline in the S&P. Today the market is back to neutral territory and as we’ve seen for the past 1 2/2 weeks, as Europe goes, so the market will go. Heading into yesterday, they were pricing in good news. But as the potential outlook changed, the market moved in line with the change. Unless something out of the ordinary occurs, today will be 100% Europe.
The above is from Larry Connors’ Daily Battle Plan.
To learn more about the Daily Battle Plan, click here for more information.
Larry Connors is founder of TradingMarkets.com