I have plenty of good setups for you this week, but I would urge you to focus on the ones that are consolidating nearby to Key Levels … unless we’re looking at an Implied Volatility Divergence Reversal.
Two sectors that stand out are Financials and Energy (Oil & Gas). Remember, when we review the overall health of the markets, we should also include the sectors ETFs. It only takes a matter of seconds, and I’ll go through that with you today.
The other big event from this past week was Merck’s announcement of their new pill form anti-viral which is a game-changer. Stocks impacted from that will be other vaccine companies (down) and leisure operators (up).
If you have missed my last few webinars, please make a special effort to attend the next few. There are game-changing upgrades coming soon that will transform all of our experience, save at least 50% of your time, and be a complete pleasure to play with.
These changes also pave the way for a more interactive experience with our charts, where you’ll be able to input your entry/stop/exit levels, save them, share them … and ultimately feed them through to execution.
This is a journey you do not want to miss!
In the first phase we are combining four separate applications into one … including the integration of our interactive One-Minute Journal, and that’s all happening in a matter of just a few weeks!
The four existing applications we’re combining are:
- Stock Profile Page
- OVI charts
Plus of course, the new Journal application.
Again, please do not miss out on this … it’s part of the biggest sweep of upgrades we’ve ever deployed, all while retaining and enhancing our market-beating methodology.
The Medium Term Timer is still a fraction oversold, but the main indices are all looking weak and in the middle of a Waterfall pattern that will show its hand either way this week.
As far as retracements go, this is still small, and a larger one is well overdue. This one looks as good an opportunity to drop further than any other we’ve seen since March 2020, but each time the market has bounced back.
There are, however, good setups in both bullish and bearish directions, and that’s what we’ll focus on today.
Trade What You See … and make sure you’re seeing at least a couple of our Big Money Footprints present in the chart.
As per the past couple of weeks, there are good bullish and bearish setups right now, which I’ll show today. We’ll focus more towards the tidiest setups near Key Levels, though there will be others to review as well. As I’ve said in the last couple of weeks, it is likely to be a market of winners and losers in reasonably equal measures.
If the market does complete its waterfall, then of course there will be far fewer bullish breakouts.
In the blink of an eye we can see from the Dashboard mainly bearish trends but bullish consolidations.
Focusing on setups near Key Levels takes just a couple of minutes with my pre-prepared Fast Filters.
The big upgrades mentioned above are progressing very well, and will be released in time for the WiseTraders Summit event attendees.
The new OptionEasy Strategy Analyzer is up and running, with further updates due shortly. These updates will include the new Strategy Matrix, making it easy for you to find your strategy. Also the Scenarios function where you can input settings for future values and see how your strategy will fair in those circumstances … a bit like how the Pricer works. The Strategy Recognize function will come a bit later.
I’ll host the Mastermind sessions for Miami Bootcamp attendees when the Matrix and Scenarios upgrades are deployed.
Remember, you can play the video at 1.25x or 1.5x speed to whizz through it faster if you like! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.