06/30 – ETF Trading – No Trades Today

That was some sell-off yesterday. The broader market is definitely oversold (see the updated chart for SPY below – notice the low RSI(2) reading). And since the broader market is below its 200 day moving average, we’ll patiently wait for a stock market rebound to trigger some new etf trading signals.

Once we take an etf trade, we won’t always take just one trading position. There are times when we’ll scale in to the trade – sometimes with 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. The strategies also work in bear markets.

Discover many more variations of position scaling, along with other etf trading strategies, in the book by Larry Connors – now in paperback: High Probability ETF Trading. Get your copy today.

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Can’t make a trade? Let Warren Buffett manage your portfolio – AlphaClone

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