Overbought Market Led by Buying in Technology, QQQ
The world markets remain overbought with every major Country Fund ETF showing readings above 70 this morning. QQQ is at 99.01 and is the most overbought major index ETF in the world. Obviously prices can move higher, but historically whenever these levels have been reached the market has paused/pulled back, often times significantly.
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