It’s just a few days until our big Orlando Bootcamp! Get ready for further chart upgrades/fixes and new “toys” for attendees before and after the event that will transform the speed at which you can find optimal options ideas… literally in a single click directly from the charts!
Soon after the event we’ll be releasing a brand new education suite that has been two years in the making. Here you’ll be able to cement your knowledge with state-of-the art fun learning tools – including quizzes! – all at your own pace.
Onto the markets…
Last week I mentioned that the April 4th monorail bar was likely to kick-start the long-anticipated market pullback.
That’s looking like another excellent market timing commentary.
At this point I expect a pullback, not a capitulation. This could mean 5-8% from the peak or thereabouts.
Market Outlook
Watch the video at the foot of this email for more detail.
From last week:
“While there may be a few twists and turns to come, it looks like Thursday’s bearish monorail bar will set the scene for a decent pullback.”
Right now, the Big Seven stocks have shown serious resilience and are propping up the SPY and QQQ.
Our market timing is a real strength. Being good at market timing enables you to swim WITH the tide.
The Main Indices
The SPY and QQQ are clinging onto their 50-dmas, while the DIA and IWM have shot down through theirs.
As I’ve said many times, the IWM will typically show more profound weakness earlier than the others. To that end it’s already down around 6.70% from its peak, with the DIA down 5% from its peak. The SPY and QQQ are not even 3% lower than their peaks… yet.
Keep sticking with our game plan of AAA setups near Key Levels.
Don’t get distracted by missed opportunities.
Market Timers
- Longer Term Market Timer (OVIs): Green.
- Medium Term Swing Timer: Bearish.
- Index OVIs: Pretty much all in the red to varying degrees.
Fast Filters Stock Selection
This week I’ve focused on setups exhibiting OVI, consolidations, and Shrinking Retracements. It’s time for the market to do its thing to the downside and then regroup.
Remember, a chart needs to have the right qualities for you to consider trading it.
Pick your game and stick to the best quality setups that conform to it.
My game is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are desirable but those four are essential to ME!
Watch the video for my full analysis.
Video analysis
Remember, you can play the video at 1.25x or 1.5x speed if you want to save time! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.
