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Next Leg Down Just a Matter of Time

Last weekend’s Summit went wonderfully well. Feedback overwhelmingly confirms it was by all accounts our best yet, and we’ll be going many steps better for the Miami Bootcamp in April.

In the past few days the S&P and IWM once again had vertigo around their 200-dma levels. Whether there’s one more push up remains to be seen. This time last week it looked like there would be a little more juice, but even that could be optimistic now.

Something to remember though, is that the stock market will always be ahead of the economy, so we need to keep in touch with it on a regular basis. The easier opportunities can present themselves quickly, so remember to be the lion … not the headless chicken!

The main point I’ve been making for some time now is that stock market is likely to make a further leg down to at least test the October lows. It’s just a question of precisely when that process starts in the coming weeks.

And we need to be on our toes for the easy setups.

Market Outlook:

The big question is whether or not the 200-dma is the final resistance for this up-move since October on the S&P and IWM.

Watch the video for more detail.

The Main Indices:

Two weeks ago I mentioned the DIA was looking a tad overbought, and it’s certainly slowed since then.
The QQQ is resting just above its 50-dma, while its OVI is still weak.
The SPY is looking weak price-wise, now below its 200-dma, but its OVI is still showing signs of life. 
The IWM is also looking weak price-wise, albeit with support at the 50-dma and an OVI that had been robust until Friday.

Two weeks ago I said here that it was likely that the remainder of this up-swing would be short-lived before the next downward retracement.

Market Timers:

  • Longer Term Market Timer (OVIsi): Amber, and will likely stay amber for this coming week.
  • Medium Term Swing Timer: Negative (not oversold)  
  • SPY OVI: Blue

Two weeks ago I said I expected any further upside to be short-lived. That’s still the case … the question is whether there is any further upside.

Fast Filters Stock Selection:

This week I’ve made a number of Fast Filters to unearth the best looking charts.
Here are a few stocks that look interesting for our consideration:


Software Upgrades:

A number of phenomenal upgrades were released for the Summit including a News Feed, Alerts and more. Now we’re about to launch our new platform, which will lead to amazing features such as looking up options strategies directly from the charts. Stay in touch to discover more as we unveil best-of-breed applications!

The VIP Chart upgrade is scheduled for Q1. Deploying your Trade Plan drawing directly from the charts will be part of that, as well as a TV channel … and we’re also planning integrated messaging!

An improved Market Timer indicator is also looking promising.


The OptionEasy Bootcamp on 22-23 April is only around the corner, and with all the upgrades coming, it will be our best ever. It’s at the National Hotel on South Beach Miami, and we’ll also be broadcasting live and recording it. I will be unveiling more upgrades and findings, making all of our trading more precise and more efficient.

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 a more ‘informed’ and confident trader 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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