3 Trades To Watch In This Oversold Market
Ryan Mallory | Mar 23, 2017 11:16AM ET
Big vote in the House today -- if it even happens -- on the ObamaCare repeal-and-replace. Whether it takes place will no doubt affect the trajectory of the market through Friday's U.S. close.
Wednesday's S&P S&P 500 managed to hold it together and not follow through to the downside after Tuesday's sell-off. That has been the norm of late for the market, whether it's been to the up or downside, when there is a sharp move in price following quiet price action, the tendency is for the market to fade the move. The latest instance was following the March 1 rally.
Short-term the market is way oversold and due for a strong bounce. If the bill can pass the House, it should be enough to rally this market Through Friday.
h2 Three Setups To Watch/h2 h3 -- Long JPMorgan Chase & Co. (NYSE:JPM)/h3
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