ConnorsRSI Confirms United Healthcare and IBM as Potential Buys

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UnitedHealth Group (NYSE: UNH) and IBM (NYSE: IBM) released quarterly results that disappointed investors on Friday and both stocks fell more than 3%. Heading into next week, traders are faced with the challenge of determining if the selloffs have gone too far. ConnorsRSI can be used to quantify the answer to that question. ConnorsRSI is [Read More]

IMB and Google’s Earnings

Larry Connors

With all three major US indexes showing ConnorsRSI readings above 80, the market is overbought and due for a near term pullback/pause. IMB and Google’s earnings will create a good reason to put the brakes on the recent rise and allow the market time to get ready for the next wave higher. For a free [Read More]

Seven Severely Oversold Stocks Due for a Bounce

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Finding stocks with multiple potential buy signals can be a profitable trading strategy. Yesterday, for example, we highlighted four stocks that were potential buys under several different buy strategies. That group delivered an average gain of 2.07% yesterday with three winners and one loser. Today, we have a list of seven stocks that are oversold [Read More]

Just Published: An Introduction to ConnorsRSI – 2nd Edition

Announcing the publication of An Introduction to ConnorsRSI – 2nd Edition. You can download the 2nd Edition here for free. In the guidebook we provide the background, formula and historical results for ConnorsRSI along with a fully disclosed pullback trading strategy to trade ConnorsRSI. As you may know, over the years we’ve researched and quantified [Read More]

The Upward Glide in Volatility

Larry Connors

Yesterday’s follow-through rally occurred as normally does occur in bull markets and the market is now slightly overbought. The Daily Battle Plan Model Portfolio exited its long position in SPY on the close. This is the 70th trade in SPY since the inception of the Battle Plan Model Portfolio – the historical track record is [Read More]

Four Stocks with Multiple High Probability Buy Signals for Wednesday

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Although stocks have closed higher in the first two days of this week, a number of stocks have not participated in the rally. Some stocks are now set up as potential buys under the rules for three different high probability trading strategies. One of those strategies is based on moving averages (MAs) which can be [Read More]

Stock Market Closed for Good Friday

The US Stock Market will be closed on the following date: April 18, 2014 Upcoming Stock Market Holiday Calendar 2014 New Years Day January 1 Martin Luther King, Jr. Day January 20 Washington’s Birthday February 17 Good Friday April 18 Memorial Day May 26 Independence Day July 4** Labor Day September 1 Thanksgiving Day November [Read More]

Market Back to Neutral Conditions

Larry Connors

Implied volatility collapsed in the last 30 minutes of trading with VIX losing over 5% for the day and the more sensitive VXST losing over 9%. The fear during the intra-day sell-off in equity prices was extreme and the rally was a good relief rally. A follow-through today is what is needed/expected because there’s a [Read More]

Buying Opportunities Found in Many Sectors

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Stocks rebounded from last week’s selloff with large cap stocks leading the market higher. SPDR Dow Jones Industrial Average (NYSE: DIA) was the day’s biggest winner among ETFs tracking major stock market indexes with a gain of 0.89%. iShares Russell 2000 (NYSE: IWM) was the laggard and gained only 0.28%. Market breadth was slightly bullish [Read More]

Oversold but not Extremely Oversold

Larry Connors

The sell-off has been mostly US centric as most of the Country Fund ETFs are in neutral territory. All three US indexes have ConnorsRSI readings below 20 which means oversold but not extremely oversold. Remember, this pullback started from overbought conditions and ConnorsRSI readings above 80 so there is nothing out of the ordinary beyond [Read More]

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