Don’t expect a sugar coating from Kevin Haggerty. This week’s market commentary includes a scathing rebuke of the Obama administration’s economic stimulus plan and the presumption that when measured correctly, the unemployment rate has actually surpassed the 20% mark.
Oversold conditions were sparked across the board by aggressive selling during Tuesday’s trading. The iShares Russell 2000 Index Fund ETF, IWM was among those particularly affected by the torrent of selling pressure, closing lower for the second consecutive day.
Day two of 2010’s trading saw the rise of PowerShares QQQ Trust ETF, QQQQ into overbought territory, placing it firmly on our list of exchange traded funds to watch for Wednesday’s trading.
New release – Larry Connors’ best-selling book High Probability ETF Trading is now available in softcover edition. Order now and find out why this is one of the more important trading books of 2009.