Friday epitomised the resilience of current market conditions as the S&P recovered to close near its high for the day.
But, overall, the quality of setups that I’m seeing is quite low. That can happen after a good run, such as the one we had from the beginning of January, so be patient as the market regroups.
Right now, it looks like the broad market will drift back (to Key Levels) rather than nosedive. Much as I said last week.
Energy stocks may be an exception, and gold stocks have also hit the buffers as we strongly suggested they would.
Market Outlook
As per last week. Likely to continue its pause, and perhaps slide further towards the big Key Levels.
Watch the video at the foot of this email for more detail.
The Main Indices
The SPY showed some fighting spirit on Friday but it’s likely to hit its 50-dma before it makes a new high.
The QQQ is likely to drift to its 200-dma (and perhaps lower) before making new highs.
The IWM is showing remarkable resilience but is likely to emulate its more illustrious index rivals.
Market Timers
- Longer Term Market Timer (OVIsi): As predicted, it has remained half-green and will continue this week.
- Medium Term Swing Timer: Just positive, likely to flirt with a negative reading this week.
- SPY OVI: Choppy and wobbling like last week.
Continued sideways to lower movement looks most likely.
Fast Filters Stock Selection
The last two weeks have been less “nuggety”… first due to many stocks having been overbought. Now it’s more that they’re still trying to find a base. My guidance to ‘not chase’ will keep you safe time and time again!
Here is a smaller list of stocks that look interesting for our consideration – remember to reference the video so you know what my sentiment is on each one:
AAPL AMKR AU AXP BP CME COP COST CPRI CRUS DE FNV FUTU GPN GTLB HDB HP HUBB LHX LMT LU MDLZ MSI NRG PEP QCOM SEE SLB VMW WELL WMT WST WWE WYNN
Software Upgrades
We’re making options “Easier than before, and Easier than everyone else“.
The amazing new tools for our Miami event …
- Overbought/Oversold filters
- Shrinking retracements filters/watchlists
- OptionEasy Pricer at the side of the chart
- OptionEasy Analyzer at the side of the chart
Also, a revamped education suite so you can take better advantage of our unique content and also our quizzes!
And that’s not all … Very soon after Miami I’ll be deploying a whole new Journal app with an inbuilt calculator for you to be in control of risk at all times.
Then will be the TV component so you can watch our education content or your mentors right next to the chart you’re looking at. And then there will be wholesale upgrades to the charts too.
Stay in touch to discover more as we unveil best-of-breed applications!
Events
The OptionEasy Bootcamp on 22-23 April is only around the corner, and with all the upgrades coming, it will be our best ever. It’s at the National Hotel on South Beach Miami, and we’ll also be broadcasting live and recording it. I will be unveiling more upgrades and findings, making all of our trading more precise and more efficient.
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.
