So, as predicted we did get increased volatility last week… and it manifested in both directions, pre and post Nvidia’s earnings announcement.
Now is the time to read the room – or the signs – very carefully.
Nvidia’s positive earnings caused a gap up, and all seems to be rosy in the garden… on the face of it.
But as I look at overall market structure and the quality of setups forming today, I see more of a mixed bag with bullish and bearish setups, and not a huge amount of the top quality I like to see.
That said, I still don’t see a clear signal for my anticipated pullback yet – and a clear signal is a requirement.
Market Outlook
Watch the video at the foot of this email for more detail.
Further gyrations of heightened volatility (gaps in both directions) are likely until we get a clearer signal that a meaningful pullback is imminent.
As I mentioned last week, we do need some form of confirmation like a bearish monorail bar, railroad track or something that telegraphs the market’s intentions clearly.
This is what I wrote last week:
“Right now, I do anticipate increased volatility and choppiness in the short to medium term.
Following the anticipated pullback, I anticipate a further bull run in the context of bullish Shrinking Retracements.”
Our market timing is a real strength. Being good at market timing enables you to swim WITH the tide. It’s a crucial skill set which we’ll include in the practical exercises at the Orlando Options Bootcamp in April.
The Main Indices
Overbought and still loving it… Now earnings is over, the likelihood increases of the anticipated pullback, but as always, let our setups form properly.
Be sure to 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: Mainly blue.
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.
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 this week’s analysis.
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.
