although overbought condition is keeping buyers at bay, S&P’s 2900 continues to act as price magnet. Short-term traders can anticipate increase short-term volatility with rapid up and down moves in the market
overbought conditions have returned on a daily basis but momentum remains supportive. It is possible that S&P could continue to drift higher as trading sentiment remains strong. As for strategy, we’d look to reduce exposure into overbought strength, which might take the S&P closer to 2800 before a significant pullback unfolds
One of the more noteworthy developments in recent days has been the move in copper. After a strong 2017 that saw the Global X Copper Miners ETF (COPX) soared more than 36 percent, outperformed the S&P by a wide margin, the ETF has been under selling pressure in recent days as traders focused on […]
One of the more noteworthy developments in recent days has been the move in copper. After a strong run of outperformance that saw the Global X Copper Miners ETF (COPX) surged more than 36% in 2017, the ETF sold off this week down 2.7% percent. Now the question is whether this is a pause […]