Friday was the perfect rally from oversold conditions and the bull market marches on. For those of you who took the signals from the Daily Battle Plan Model Portfolio, you should have locked in your gains on Friday’s close. Overall there are few edges either way and we’ll wait until larger edges appear. For a [Read More]
This is being written on Thursday evening ahead of the jobs report. Based on the way the market has behaved this week, on top of the fact that volatility began moving higher late last week while the overall market was still rising, it’s become obvious that someone believes they have knowledge about the report that’s [Read More]
The market remains oversold. The VIX spiked and then plunged from its highs in the afternoon which is always a good sign of capitulation ahead of a rally. There are still many stocks with extremely low RSI readings and any type of good news is likely going to lead to a resumption of the bull [Read More]
The market is now oversold with a ConnorsRSI reading of 18.26. What’s interesting is to see the VIX rise for the sixth consecutive day, a fear reading that has been rare over the past two years. With so many stocks and ETFs oversold, the market is likely nearing a short-term bottom within a a day [Read More]
Yesterday I mentioned the 2-perod RSI in QQQ and IWM had reached 99 on Friday and those levels as we know are unsustainable. Yesterday’s pullback was due and it leaves the market today in a slightly oversold condition. Please note that we jut published new research on trading Moving Averages. You can download our latest [Read More]
On Friday the 2-period RSI of QQQ and IWM reached intra-day readings above 99 which are unsustainable levels and the fast sell-off near the close was the results of the extremes the market had reached. After 8 straight weeks higher closing prices, combined with the market being overbought, a short-term pullback/pause is in the works [Read More]
The market is coiled and a large short term move is nearing. With holiday trading upon us the move may occur early next week but whenever you see such drying up of volatility it often precedes higher volatility. Any unexpected news will trigger this move. Have a Happy Thanksgiving! For today’s official Daily Battle Plan [Read More]
The market is overbought and called to open higher making it even more overbought. There is all good news out there and prices and extremely low volatility are reflecting this. At a minimum a pause/pullback day is now due and likely within a day or so. For today’s official Daily Battle Plan set-ups click here.