Overbought Globally, Oversold Locally
The global market environment I mentioned yesterday with many countries around the globe being overbought and the U.S. being oversold remains the same today.
It’ a bit odd to see the U.S. lag like this but one good day’s rally will take care of this. The futures are showing a higher open as of 7 am ET and it’s imperative that this strength follows through into the close.
Making You a Better Trader
To improve, you must continuously learn…
Ernie Chan is one of my favorite researchers and I always enjoy reading his work. I just completed his new book “Algorithmic Trading: Winning Strategies and Their Rationale” and highly recommend it. I immediately came up with strategy ideas which we are now testing and anyone reading this book will be able to do the same.
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