European Optimism Drive Banks, S&P 500 Higher
There are an abundance of ETFs with RSI readings above 90 today, along with many showing PowerRatings readings of 1 and 2. As I mentioned yesterday, the market has begun the process of factoring in a positive resolution to Europe. Anything short of that will be lead to a healthy sell-off.
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