Markets Sensitive As We Hit Pre-Earnings

Some more good performances this week, but the markets are now in a sensitive position with the S&P just above its 200-dma, the Dow sandwiched between its 50- and 200-dmas, and the Nasdaq having bounce down off its 200-dma.  

As we approach the April earnings season, that presents us with a conundrum, but right now the setups are predominantly bullish.  

Just three weeks left until our Miami Bootcamp … it’s getting exciting now.  I’ll have completed the course manual by tomorrow, and the final preparations are accelerating for various software upgrades to happen in time for the event.  

Current Market Behavior:

The longer term slower market timer – my OVIsi – turned amber on Monday and then half-green on Tuesday.  This indicator works best with longer term time  horizons.  

My medium term SPY Swing Timer is still positive and not quite overbought, while the short term timer’s last two bullish signals followed previous more timely signals.

Again, please do not simply follow the arrow signals blindly.  

The S&P 500 is still holding its 200-dma, while the other indices were looking more precarious until Friday’s recovery.

While I still remain cautious, the vast majority of my attention is on the shorter term bullish side, while always avoiding overbought issues.  Remember, any setup must produce a breakout for any trades to trigger.  

Market Outlook:

Short term still looks uncertain.  Monday’s reaction will be important with regard to today’s bullish setups.  I mentioned last weeken that things can change quickly and not to take anything for granted. On Wednesday and Thursday last week things did change quickly!  

Stock Selection:

A more focused review today with a much higher nugget ratio of stocks reviewed!  

Application:

This week I have focused almost exclusively on setups near the Key Levels. 

Software Upgrades

I demo’d some big upgrades last week … more deployments are imminent!  

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.

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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