There is little doubt that the broad market has been bullish over the past few weeks. But most stocks remain in neutral with PowerRatings of 4, 5 or 6. Just two of the components of the S&P 500 index are oversold with PowerRatings above 8 and 30 (or 6% of the stocks) are overbought with… [Read More]
Hope for Economic Soft Landing in China Pushes Stock Market Higher
Moves in several global stock markets, including China, were driven by economic news last week. Last week’s news also demonstrated why many analysts struggle with interpreting news from China. According to the most recent data, the rate of growth in GDP fell to 7.4% in the first quarter from 7.7% in the fourth quarter of… [Read More]
Tech Stock Bounce Possible
After three consecutive down days, PowerShares QQQ (NASDAQ: QQQ) has become oversold. Among tech stocks, Market Vectors Semiconductor ETF (NYSE: SMH) is oversold according to a number of indicators. SMH meets the setup requirements for potential buys under rules for ConnorsRSI, the Bollinger Bands® %b strategy and the 2-period RSI. Trading Market Analytics offers a… [Read More]
Icahn Joins the Chorus of Bears as Stocks Near Oversold Levels
After reaching record highs, the Dow Jones Industrial Average and S&P 500 sold off late in the day. Commentators attributed the selloff to bearish comments by Carl Icahn who has been having a great year. Icahn Enterprises L.P. (NYSE: IEP), one of Icahn’s investment vehicles, is up more than 185% since the beginning of the… [Read More]
Earnings Reports Continue Driving Big Moves
Caterpillar (NYSE: CAT) dropped more than 6% after missing earnings estimates. Management also lowered their guidance for the next quarter. Before reporting earnings on Wednesday morning, CAT was overbought with a ConnorsRSI of 89.24 at the close on Tuesday. After the company released its earnings, CAT sold off. This has been a recurring pattern this… [Read More]
3 Overbought China Funds for Active Investors
With good news driving the prices of Chinese stocks higher and deeper into overbought territory, when will traders say “when”?
Are Asian ETFs Irresistibly Overbought?
DataTrader: Trading in bear market territory since early August, ETFs representing Asian nations like Taiwan and South Korea have sold-off after every rally. Will the current bounce prove any different?
Big Weekly Winners in Stocks: Swing Trading with PowerRatings
Big Weekly Winners Leveraged short ETFs representing both technology and China provided some of the biggest gains last week for traders and active investors using PowerRatings.
Big Weekly Winners: Swing Trading with PowerRatings
Swing Trading with PowerRatings This past week’s top performing, top-rated stocks and exchange-traded funds include a bear China ETF and a transportation firm.
High Probability ETF Trading: Most Oversold and Most Overbought ETFs for Today (QID, PSQ, EEV, FXP, MZZ)
Here are some of the inverse leveraged ETFs that high probability traders should put on their watchlists for the next few days. Given the already overbought condition of the broader market, traders should not be surprised if many of these inverse leveraged ETFs begin their reversals to the upside sooner than many expect.
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