Market Neutral Awaiting a Pulback
If you’ve followed the Daily Battle Plan for some time, you know that yesterday is the traditional pause day after a large one day upward move. What surprised me is the way many of the ETFs that began down trending last month like Brazil (EWZ) and Real Estate (IYR and ICF) reversed their Wednesday gains and dropped yesterday. There’s global rotation flows occurring with the emerging countries and the interest rate related sectors showing money outflows and it may be awhile before all the selling is done in those sectors.
The S&P and the other US major indexes though remain in a bull market.
Today the market is neutral and a pullback is viewed as a buying opportunity.
Have a great weekend!
Today’s Potential Opportunities on Further Pullbacks:
Stocks