Before we get stuck in today, a quick reminder to try out our state of the art trading platform, for free, for the next 30 days.
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The best way to watch today’s video
The best way to watch this week’s video, so you can flip through the charts at the same time, is as follows:
- Once you’ve signed up to the free trial, log into the members area: https://members.wisetraders.com
- Click on Platform (top right)
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
If you have multiple screens, you can pop out the video by mousing over the video itself where you’ll see a “picture-in-picture” icon, and if you only have one screen you can watch it next to the charts or maximise the video window to full screen. That’s your choice!
Market Outlook
Watch the video at the foot of this email for more detail.
For a long while I’ve maintained that the market will likely remain bullish during the Jan/Feb earnings season but would need a pause or pullback afterwards. This has been a good call so far, and there’s still another week of intense earnings announcement ahead.
Precisely when the pullback will manifest, we’ll only know when the first signs appear, like a bearish monorail bar, railroad track or something that telegraphs the market’s intentions clearly.
Following the anticipated pullback, I anticipate a further bull run in the context of bullish Shrinking Retracements.
As you can see, market timing is a crucial skill set which we’ll include in the practical exercises at the Orlando Options Bootcamp in April.
The Main Indices
Last week I said “the three big indices continue to enjoy being overbought while the IWM has pulled back to its 50-dma and is holding firm”.
That was spot on as bullish continued and the IWM bounced off its 50-dma.
As mentioned, many times over the past few weeks, the anticipated pullback will have to wait until sometime after earnings.
As always, let the setups form, and protect your existing profits and any new profits early.
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: Bullish and not overbought.
- Index OVIs: TThe SPY, QQQ and DIA OVIs are positive. The IWM OVI is hovering around neutral territory.
Fast Filters Stock Selection
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.
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** The list of stocks is in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video commentary so you know what my sentiment is on each stock listed. **
Events
Our Options Bootcamp in Orlando on 20-21 April will be the most practical ever, with around 20 exercises and with the most bonuses ever.
Like we just did in London, each session will have a practical exercise for you to complete, so you can build your confidence in finding the exact type of setup you want to focus on. These practicals will involve all the options strategies covered, with each one taking only a few minutes to complete. This will give you the confidence to use our options tools to their maximum potential while saving you huge amounts of time.
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.
