Last week I said that while the main indices had retraced (apart from the DIA) I expected them to rebound as we get into earnings season.
This is exactly what happened, though the financials didn’t have a great week as the big boys started to announce.
It all bodes for a some upward but inconsistent trajectory during earnings, but as I’ve said a few times, I expect this market to run out of steam after earnings season. A retracement then would set us up nicely for the rest of the year with plenty of bullish Shrinking Retracements.
With our market timing commentaries having been so good for so long, I’ve been sharing my discretionary technique with the quant team to see how much of it we can automate.
That’s all part of the commitment to more practical exercises, which will continue in our Orlando Options Bootcamp in April.
Finally, a quick reminder …
** Very soon, these Market Reviews will change. Please keep an eye out for this in the coming weeks. **
See below for the Market Outlook.
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Again, I’m putting today’s reviewed stocks into my (Guy’s) Expert Watchlist area. That means the big list and the more condensed list.
Watch the video for more detail.
The three big indices are holding on near local highs, while the IWM is struggling to hang in there somewhat.
The likelihood remains for a bumpy bullish earnings and then a more “interesting” pullback thereafter, creating plenty of optimal setups for us from spring onwards.
Keep sticking with our game plan of AAA setups near Key Levels. Don’t get distracted by missed opportunities.
The Main Indices:
From the main indices, the IWM remains the most shaky, as I have mentioned it would recently. I also mentioned I didn’t expect major weakness *yet* in the other indices.
As always, let the setups form, and protect your existing profits and any new profits early.
- Longer Term Market Timer (OVIsi):
- Medium Term Swing Timer:
- Index OVIs:
They’re all a bit unconvincing right now. That probably tells us something about the strength of this earnings season (ie. upward but not necessarily convincing) and what could transpire after.
Fast Filters Stock Selection:
This week I’ve conducted a number of searches to get a feel for the markets – it’s part of my routine – and then I gravitate to setups near Key Levels.
Most of the flag consolidations right now are pullbacks from highs, hence showing as bear flags. That’s fine, and a number of those types of setups have already rebounded upwards off Key Levels in the past few days.
Remember, of all the Big Money Footprints, the three most important are OVI, Shrinking Retracements, and Key Levels. The others are also very helpful, but those three are the ones I look for first in the VIP section. The bullish Shrinking Retracements are still quite scarce right now, but after the next meaningful pullback (and subsequent bounce), they’ll start to populate again.
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** Very soon I will only post this in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video so you know what my sentiment is on each stock listed. **
The new charts are our priority for our next piece of development so we can have a link to a broker platform. It looks like we’ll be able to package orders from our journal app to make life much easier for you.
A further journal app upgrade and calculator will go after that.
Also, the full mobile phone (portrait) optimization is on the docket. Lots to do!
Many more game-changing upgrades will be made in time for the Orlando Options Bootcamp on April 20-21.
Stay in touch to discover more as we unveil best-of-breed applications!
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.
The Stocks Summit recordings are all up now and organised into their relevant chapters for easy viewing.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
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.