12/03 – ETF Trading – No Trades Today

The broader market closed higher yesterday, leaving SPY in an over-bought condition (see the updated chart for SPY below – notice the high RSI(2) reading). And, as we discussed yesterday, we will not take a short trade. A market correction will help trigger some new etf trading signals.

When we’re ready to trade, though, we won’t take just one trading position. Depending on the market action, we’ll make additional trades – scaling in to the trade – with up to 3 to 4 additional positions. And each position gets a bit larger than the previous one. Larry Connors has a great summary of these strategies which you can review here. The strategies also work in bear markets.

Discover all of the etf trading strategies used here at ETF Stock Trading in the book by Larry Connors: High Probability ETF Trading. His etf trading strategies have only a few rules and you can back-test and apply the strategies on the next trading day. The book, complete with exact trading rules, is backed by over a decade of statistical results. Get your copy today.

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

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