Sideways Movement Stabilizes Market
Bull markets will often pause a few days after being overbought, and that pause is all that’s needed before the next leg higher occurs.
The last two days of sideways movement has brought the market back to normal and the ConnorsRSI reading on SPY is under 35.
Another day of this pause/pullback may yield us opportunities to go long the market.
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.
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