Europe, Jobs Potential Catalysts for Higher Stock Prices
Sad day with the passing of Steve Jobs. Brilliant man.
The market is slightly overbought with the 2-period RSI of the Country Fund Universe at 66.12. The two-day rally is again in line with a normal bear market rally and it can continue for a few days. But without some major change in sentiment, the rally will eventually reverse. A strong jobs report or an epic announcement from Europe are the two main potential catalysts to move prices higher longer term. Without those, expect the rally to be short-lived.
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