07/08 – ETF Trading – No Trades Today

We’ll make no trades today. With yesterday’s rally, the broader market remains in an over-bought condition. Take a look at the RSI 2 for SPY in the updated chart below.

So why not go short here? Our rules tell us to short an etf only when the etf price is less than it’s 200 day moving average. Why is that important? Read more by author by David Penn.

We’ll just wait for a strong stock market sell-off to trigger some new etf trading signals. We want the RSI 2 to drop and remain below 25 for at least 2 days before considering any new trades.

What are the etf trading signals? They’re found in the book by Larry Connors: High Probability ETF Trading – now at a really great price with the release of the paperback edition! Get your copy today and be ready for the next etf trading session.

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