With today being the last business day in August, volume will be extremely light unless something from Syria occurs. The sabre rattling has lessened and should the Obama administration find a way to save face while avoiding a strike, the global markets will likely rally, especially next week. Have a great 3-day weekend! The above… [Read More]
ConnorsRSI
Tread Lightly in Today’s Market
As the situation in Syria goes, so goes the market over the next two days. Any signs of containment to the situation likely leads prices higher throughout the world. Because the three day holiday is upon us, liquidity is less than normal and a move in either direction could be substantial. Please use caution here…. [Read More]
Syrian Conflict Continues to Dominate
Syria is obviously the determinant over the next few days. Yesterday’s pullback was orderly and leaves the market oversold but not at extremes. Any type of positive resolution from the Syrian situation will likely lead to a good end-of-the month rally where the bias resides. The above excerpt is from Larry Connors’ Daily Battle Plan… [Read More]
How to Trade Multiple Up & Down Days in a Row
Securities that rise or fall multiple days in a row tend to reverse a high percentage of the time (oftentimes over 80% of the time).
Syria Shakes Global Markets
The situation in Syria has now created an unknown which is going to take volatility higher today in what is usually a very quiet week. Most of world markets continue to decline (with or without Syria) while the U.S. remains well above its 200-day ma. It looks like we’ll have the opportunity to capture a… [Read More]
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… [Read More]
Will the Follow-Through Continue?
With so many ETFs oversold coming into yesterday, especially the high number of country fund ETFs I mentioned, yesterday’s bounce was no surprise. Today is the next to last Friday of the summer and as we saw last Friday, unless something out of the ordinary occurs, today will be a light day. Ideally the upward… [Read More]
Expect a Global Bounce
Today 65% of the liquid Country ETFs are trading under the 200-day signifying a global bear market.30% of the Country ETFs have ConnorsRSI readings under 10 today, something we have yet to see since creating ConnorsRSI. As we saw in 2008, bear markets can cause havoc and that’s the way it’s playing out in a… [Read More]
After Equity ETF Opportunities, Back to Neutral
Yesterday I mentioned “the last time the market has had a 2-day cumulative ConnorsRSI reading (the past two days added together) of under 30 was on June 24 and the Fed proceeded to step in and launch a 5 week upward move”. Cumulative ConnorsRSI levels under 30 tend to do a good job of identifying… [Read More]
Oversold Around the World
The last time the market has had a 2-day cumulative ConnorsRSI reading (the past two days added together) of under 30 was on June 24 and the Fed proceeded to step in and launch a 5 week upward move. Whether this occurs again remains to be seen but no matter how one measure this, the… [Read More]
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