Global Markets Begin to Settle
The markets globally have begun to pull in with the majority of Country Funds ETFs showing ConnorsRSI readings under 50.
SPY is seeing its first pullback in a month; an amazing Fed induced move and we’ll now see how long this pullback lasts.
The healthiest thing would be for the market to pullback at least 1-2 more days and do so in by a healthy amount. This would allow us to gain further long exposure and create a number of great set-ups on the long side.
Making You a Better Trader
To improve, you must continuously learn…
On August 7 & 8 I will be conducting a two evening Quantified Options Trading Strategies Summit. If you would like to learn more information on the Options Trading Summit, please click here.
The above excerpt is from Larry Connors’ Daily Battle Plan – A professional-grade trading information service that will help you understand the quantitative metrics behind each day’s market conditions and how they point to selective strategies for high-probability trades.
To take a free trial to Larry Connors Daily Battle Plan and receive his market insights and ETF trade set-ups for the upcoming trading day, please click here.