Exuberance Begins to Fade
Some of the exuberance in the US is beginning to fade as the market is pulling back and is now oversold. Yesterday’s decline though was met with a lower VIX reading so there remains little if any fear out there. On a global basis many of the emerging countries under their 200 day ma continue to slide and their longer term trend remains lower. In a perfect world the US markets would have a healthy 1-2 day sell-off which would set up a potentially ideal short-term buying opportunity.
Today’s Potential Opportunities on Further Pullbacks:
For today’s official Daily Battle Plan set-ups click here.
Special Invitation: Join Larry Connors for TradingMarkets 1st Trend Following Summit – FREE Preview Webinar on Wednesday Jan 8 at 1pm ET