Slightly Overbought Within Summer Doldrums
Friday I mentioned that a follow-through day would be helpful to reaffirm the U.S. bull market. Therefore, it was good to see the upward move.
Unless something out of the ordinary occurs, this week is going to be a quiet week, especially later in the week because of the weekend holiday. The market today is slightly overbought and we’ll wait a day and see if there is any movement before committing to new positions.
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.