01/06 – ETF Trading – No Trades Today

Good morning. My stock screener is reporting that we have no etf trading opportunities today. Markets are in an overbought condition. We’ll wait for a stock market pull-back to trigger new etf trading signals.

Once we enter an etf trade, we won’t always take just one trading position. There are times when we’ll scale in to the trade – sometimes up to 3 to 4 additional positions. And each position gets a bit larger than the previous position. Larry Connors has a great summary of these strategies which you can review – I think you’ll enjoy it.

Here’s an updated chart for SPY showing the overbought condition of the market. Notice the high RSI(2) value.

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