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]
ConnorsRSI
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]
The Dow’s Dip Leaves Room for a Pullback
The market had its 1-2 day sell-off we were looking for late last week and it’s now oversold. After the Dow put in its worst week of the year combined with bond prices plunging, I would have expected to see more extreme oversold conditions coming into today. But the average ConnorsRSI reading on all the… [Read More]
Take Advantage of the Sell-Off with Leveraged ETFs
Yesterday I wrote ”A healthy 1-2 day global sell-off is what the market needs right here and it will then provide some very good leveraged ETF buy set-ups heading into the weekend.” This is in fact what happened and please see the Leveraged ETF section for today’s buying opportunities. Have a great weekend! Receive high… [Read More]
Look for a Sell-Off in Global Markets
The U.S. market is again slightly oversold while most of the world remains overbought. There’s a good chance that the global markets will move in-line with the U.S., especially with the U.S. futures pointing lower this morning. A healthy 1-2 day global sell-off is what the market needs right here and it will then provide… [Read More]
Yesterday’s Rally Boosts U.S. Market
Yes, I wrote that it was “a bit odd to see the U.S. lag like this but one good day’s rally will take care of this” and that’s the way it played out as yesterday’s rally has taken the U.S. into neutral/slightly overbought conditions. A follow-through today will allow the Daily Battle Plan Model Portfolio… [Read More]
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… [Read More]