I’m sure I don’t need to harp on about how good the OVI is … but seriously … it is ridiculously good!!
We’ve known for some time now that the markets weren’t happy. The S&P OVI has been negative for well over a month and key support levels have now been broken. Even AAPL has broken its support at 550.
Just take a look at my email from Sunday night and you’ll see we were correct on EVERY CHART!
That means S&P, AAPL, Nasdaq, RIMM, QCOM, HPQ, BAC, GS, CHK, SLB, MCD are all down.
I said AMZN was holding up ok, and it still is!.
BIDU is pretty much where it was and is now forming a bear flag, albeit without a compelling OVI.
Here’s the note from Sunday …
http://ovitradersclub.com/post/2012/05/13/Sell-in-May-.aspx
If you’re in the OVI Traders Club, check the updated charts on Thursday morning. If you’re not in the OVI Traders Club … you really should be by now – this stuff is seriously powerful! And it’s safe too.