The April-May earnings season is now underway and is already looking like it will confirm my previous thoughts about it.
My OVI Dashboard indicators and the OVI Sentiment Indicator are still pointing in a broadly bullish direction, so I’ll be focusing on bullish looking stocks.
As I mentioned last time, there are many charts with a broad multi-month reverse head and shoulders pattern as well. On its own I don’t pay much attention to traditional technical patterns or indicators, but in conjunction with OVI indications, they becomes more significant and certain patterns (like flags) can be used for effective risk management.
Remember to focus on the most compelling setups and be patient for them. As normal, I’ll highlight a number with interesting discussion points, among which will be a few real gems!
Today’s filters have included one for pre-earnings and a continuation of previous weeks’ filters.
Enjoy the video!