08/10 – ETF Trading – No Trades Today

The broader market is moving back to a short term over-bought condition. Notice the high RSI(2) reading for SPY in the updated chart below.

Should we go long or short here? Our etf trading rules are based primarily on the 200 day moving average. Why is that important? Author David Penn explains here.

We’ll patiently wait for the broader market to move away from its 200 day moving average so that we can determine its primary trend.

Want to learn more about the etf trading signals used here? 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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Scared to trade? Let Warren Buffet manage your portfolio – AlphaClone

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