Oversold but not Extremely Oversold
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 the hysteria the media is creating. Normal scaling into positions is the proper course here.
Today’s Potential Opportunities on Further Pullbacks:
ETFs: