Important Market Update Difficult Times Ahead

Lots to talk about in this post… The markets are wobbly and would be worse still but for AAPL’s performance.  

Before I get onto that, just a quick note for your calendar: 

Diary Date: Annual Workshop on 30th November, London Heathrow

It’s getting round for that time of year again.  My annual London workshop will be on 30th November and I’ll be broadcasting it live again.  So even if you can’t physically get to the venue you can watch it live from the comfort of your own home like many others did last year.  More about that soon.  

Now for the markets … 

SPY
Before I get onto AAPL I want to urge great caution about all long trades for the time being.  Look at the chart for the S&P and like I said last time, you’ll see that it looks like it could form a head and shoulders pattern over the next 2-3 months.  

spy 2013.08.20.jpg

QQQ
This looks ominous for the Nasdaq.  Either the Doji facilitates a turnaround or we break through the support.  My bet medium term is we’re going down.  

qqq 2013.08.20.jpg

DIA 
This doesn’t look too happy either.  Negative OVI it blew through Friday’s Doji.  

dia 2013.08.20.jpg

AAPL
Just look at the correlation between the positive OVI, the bull flag chart patterns and the upward trend.  If you do nothing else you should just wait for these setups and embrace them like old friends when they come along.  I personally would be quite happy to wait for these large cap stocks like AAPL and GS to give me these gifts – even if they’re only a couple of times a year – and go with them when they come along.  

aapl 2013.08.20.jpg

AMZN 
Slight hope with Monday’s large Doji bar forming a reversal, but my bet is that it would be temporary.  

amzn 2013.08.20.jpg

CHK
Running out of steam until the market figures out which way to go.  

chk 2013.08.20.jpg

GLD
If the markets tank, Gold could be back in fashion.  

gld 2013.08.20.jpg

SLV 
Ditto for Silver.  

slv 2013.08.20.jpg

GS 
No fun here for us.  

gs 2013.08.20.jpg

IBM
Classic bearish pattern.  I highlighted this one last week so someone else will have also made money from it!  

ibm 2013.08.20.jpg

PSX 
What I would give for a bear flag right at support and a continued negative OVI here for this former favourite!  

psx 2013.08.20.jpg

TXN
Could this be the moment for TXN to break down properly? 

txn 2013.08.20.jpg

VZ
Another one I told you about last week … Dojis may provide temporary relief. 

vz 2013.08.20.jpg

X
It’s time will come when it breaks out through resistance … but unlikely in this market.  

x 2013.08.20.jpg

XOM
More misery for XOM.  

xom 2013.08.20.jpg

If you learn nothing else from my last few emailsl, just observe the correlation between the OVI and the trend and chart pattern.  When it’s obvious it’s obvious and you have great money-making opportunities. You don’t have to be familiar with many stocks in order to make great gains from the market.  This is by far my favourite approach and only takes a few minutes a day to observe and implement.  

Long term, I also like a more automated approach, but if you’re also in that boat remember, a long-only automated system is a longer term approach, which means this type of market isn’t going to suit it so well in the short term.  

More soon – please do remember the seminar date for 30th November.  

All the best

Guy  

PS. If you’re interested in any of our OVI trading services for stocks or options such as a fast-track mentorship or workshop event, book yourself an appointment here to speak with us. Many of our members aren’t aware of all the services we offer to help you become an established consistent winner with the OVI. Remember, everyone is an individual, and we ensure that we can cater to you and your particular needs.

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