Just FIVE weeks until Miami, and I’ve secured a 72-hour extension on rooms at our corporate rate, so if you want a once-in-a-lifetime Workation in the last options event of this kind, please contact us and grab it now!
There is something very special about this event. It’s not just about the new tools we’ll be releasing … it’s also about the social aspect in a very intimate environment which is our own space.
So, what about the markets?
Well, once again you can see the strengths of the WiseTraders method.
First, our market timing continues to be a thing of beauty.
And Second, our stock selection has been pretty good too!
Over the past few weeks I’ve referred to the scarcity of good quality setups as one of my guides. In the last two weeks my main take has been that the market was not ready for a new upswing, and chaotically bouncing around the Key Levels was more likely.
Uncannily, that is exactly what has happened …
Last week I also said a likely scenario was for the market to test the January lows. The SPY got very close on Monday, didn’t it!
As we sit here today, I interpret what I see as still being weak. So another test is likely in due course.
Again, be the lion and not the headless chicken. But there are some decent setups as well.
As I mentioned last week, personally I think another leg down is what the market really needs in order to provide the rich seam of setups that makes us happy traders.
So like last week, this is prime lion time, and a wonderful time to optimize your learning.
Last week I said I expected the January lows to be hit in due course. We got very close, but there’s still plenty of chance for another attempt.
Watch the video for more detail.
The Main Indices:
The SPY is doing its chaotic thing around the Key Levels.
The QQQ has somewhat confounded and is the most difficult index to interpret right now. I cannot see an enormous amount of short term upside, but let’s get unambiguous confirmation first.
The IWM’s is looking good for further downside, consolidating just under its 200-dma with a persistent negative OVI.
The DIA is also looking good for downside, again consolidating just under its 200-dma with a negative OVI.
- Longer Term Market Timer (OVIsi): Still half-green but looking vulnerable.
- Medium Term Swing Timer: Negative and likely to wobble around in and out of that zone.
- SPY OVI: As I said last week, the OVI has been amazingly prescient … red since 21st February.
Fast Filters Stock Selection:
Volatile conditions yield relatively small number of nuggets, but there are a few day that look interesting. Focus on setups near the Key Levels (especially the 50- and 200-dma’s).
In Miami I’ll show you how to focus on great value optionable stocks and which options make most sense too.
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:
AAL AAPL AMBA AMZN BBY BURL CARR CCL CEG DIA EL FDX FITB FUTU H ICE IWM JBL KBH LW MDY MGM MS MSFT NET PLNT PYPL RCL RSP SBUX SPLK SPY TOST TPR TPX ULTA VMW XOM XPO
The Miami upgrades are game-changers that will save you time and make you a better options trader.
- Overbought/Oversold filters (great for credit spreads) … we’ll cover this in Miami.
- Shrinking retracements filters / watchlists (ideal for your bread, butter and also plenty of jam!) … again to be covered in Miami.
- OptionEasy Pricer at the side of the chart (will save you hours each day)
- OptionEasy Analyzer at the side of the chart (will save you days each week!)
Also, our revamped education suite is accelerating its new release, 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 there 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!
The OptionEasy Bootcamp on 22-23 April is only FIVE WEEKS away, and our corporate room rates are running out quickly. With all the upgrades coming, this 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.
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.