Innovation is the very essence of our DNA, but we don’t innovate just for the sake of it.
Any new tools we introduce are well researched, and ones that are vital to us all being the best traders we can be, being more precise, speeding up the process, and making it all more enjoyable and fun.
Later this year we will be introducing some of the biggest upgrades we’ve ever deployed, and these upgrades will be game-changers.
In today’s review I show a few preliminary designs so you can see the direction we’re headed in. So, you can start getting excited too because you are an integral and important part of this journey.
Aside from continued improvements in our algorithms and methodology, you’ll find a marked improvement in how you interact with our tools.
- Complete mobile optimization
- Create your journal notes and trading plans … and access them directly from the charts
- Merging of TradeFinders, Watchlists, OVI Charts, and Stock Profiles into one seamless application
- Draw your entry, stop, and profit levels on the charts, store them and access them.
- Idea sharing capability with your fellow members (at your discretion)
- … and much more
These upgrades will also incorporate a contemporary look and feel, but unlike so many applications I see out there, ours will retain and enhance the real substance of what we already provide. Everything will have a proper reason for being there. Nothing for the sake of it. And it’s all going to get better, quicker, easier, and more fun!
Market OverviewIn today’s market review, you’ll see that many stocks failed to break out to the upside this week. Once again, our trade plan has been highly effective in protecting us. Being patient for a breakout is such an excellent tactic.
Looking at the 1 and 2 month trends, we can see that the broader market is in a downward retracement, while the big indices have been reaching new highs. That tells us that these new highs are not carrying mid cap stocks.
This market is also characterised by stocks that rise slowly and retrace quickly. This makes trading breakouts much tougher, which is why I’m more focused on breakouts from rectracements right now.
The Long Term Market Timer (OVIsi) remains bullish, but remember it’s a slow moving indicator. The Medium Term Market Timer remains positive without being overbought. So the main focus is still bullish but from retracement setups, and there are also a few rather interesting bearish setups today.
Market Outlook
Last week I mentioned the big indices looked a bit stretched … on Monday this became overstretched, and then the market took a steep tumble from Tuesday to Thursday … before then bouncing back strongly on Friday.
It remains a bullish market, but an awkward and choppy one at that. I do think this particular cycle is running low on fumes, and we’re likely to see more tangible evidence of that in the next few weeks.
This means being extra fussy with your stock selection, and extra conservative in securing your first profit target early.
Again only Trade What You See … and make sure you’re seeing at least a couple of our Big Money Footprints!
Software Upgrades
As in today’s video and described earlier, we’re gearing up for major upgrades later in the year, though as is now normal we’ll be making new releases in the meantime. I’m hoping the new OptionEasy Strategy Analyzer will be ready soon, though its transformation into new tech has proven to be a very large task. I’m really looking forward to it being completed!
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This week’s market review has a couple of plumb setups, a couple of bearish setups, and plenty of learning insights. Remember, you can play it at 1.25x or 1.5x speed to whizz through it quicker if you like!
