Europe A Catalyst for Selling an Overbought Market

This trading lesson was reinforced yesterday; Index ETFs (in this case the QQQ) with RSI readings above 99 are not sustainable. Yesterday’s selloff was inevitable.

The market enters the day slightly oversold. As I mentioned Monday in the audio version of the Daily BattlePlan, Europe will continue to be dictate the markets through the week until a definitive agreement is reached.

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