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Now for the markets:
Greetings from Orlando!!!!
As I go through my regular routine I see a market that has performed as we anticipated it would do through earnings … ie. bullish with some bumps.
The question is: what now?
Most likely some more upside to the end of earnings, but there are also signs that a pause is necessary. I also see that several oil and gas stocks have recovered strongly from bearish looking setups last week.
As I’ve mentioned in the past few weeks, I expect this market to run out of steam after earnings season. A retracement then would set us up nicely for the rest of the year with plenty of bullish Shrinking Retracements.
I’m looking at automating more of this Market Timing piece, and will include this crucial skill set in the practical exercises, which we’ll do at the Orlando Options Bootcamp in April.
Finally, a quick reminder …
** Soon, these Market Reviews will change. Please keep an eye out for this in the coming weeks. **
See below for the Market Outlook.
How to Watch This Video
- Log into the members area: https://members.wisetraders.com
- Click on Platform (top right)
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
If you have multiple screens, you can pop out the video by mousing over the video itself where you’ll see a “picture-in-picture” icon, and if you only have one screen you can watch it next to the charts or maximize the video window to full screen. That’s your choice!
Again, I’m putting today’s reviewed stocks into my (Guy’s) Expert Watchlist area. That means the big list and the more condensed list.
Market Outlook:
Watch the video for more detail.
The three big indices are overbought while the IWM has become more volatile earlier than the others.
It seems only a matter of time for the anticipated retracement to come, and that’s likely to be sometime after earnings.
Keep sticking with our game plan of AAA setups near Key Levels. Don’t get distracted by missed opportunities.
The Main Indices:
Likely nothing too dramatic just yet … There’s still a couple of weeks of earnings to go, and then we should see some more corrections.
As always, let the setups form, and protect your existing profits and any new profits early.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green, which bodes well for the longer term, but that doesn’t preclude the anticipated shorter term correction. - Medium Term Swing Timer:
Bullish and retreating from near overbought levels. - Index OVIs:
The SPY and QQQ OVIs are more convincing than the DIA and IWM, but are likely to soften in the coming days and weeks.
Fast Filters Stock Selection:
As I mentioned last week, you may notice an increasing number of bullish Shrinking Retracement setups forming. This is good news and will bode well especially if/when we get the anticipated pullback after earnings.
Shrinking Retracements can show up for several months at a time, so there’s no hurry to act just because you see a bunch forming. We need other Big Money Footprints to be prominent alongside them as well as a safe setup. The user feedback for this remarkable indicator continues to be amazingly strong, and it’s only available to VIPs.
This week sees fewer plum setups of the kind I really like, so it will be interesting to see how the markets behave for the second half of earnings and beyond.
Remember, of all the Big Money Footprints, the three most important are OVI, Shrinking Retracements, and Key Levels. The others are also very helpful, but those three are the ones I look for first in the VIP section. The bullish Shrinking Retracements are still quite scarce right now, but after the next meaningful pullback (and subsequent bounce), they’ll start to populate again.
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** Very soon I will only post this in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video so you know what my sentiment is on each stock listed. **
Software Upgrades:
The new charts are our priority for our next piece of development so we can have a link to a broker platform. It looks like we’ll be able to package orders from our journal app to make life much easier for you.
A further journal app upgrade and calculator will go after that.
Also, the full mobile phone (portrait) optimization is on the docket. Lots to do!
Many more game-changing upgrades will be made in time for the Orlando Options Bootcamp on April 20-21.
Stay in touch to discover more as we unveil best-of-breed applications!
Events:
Our Options Bootcamp in Orlando on 20-21 April will be the most practical ever, with around 20 exercises and with the most bonuses ever.
Like we just did in London, each session will have a practical exercise for you to complete, so you can build your confidence in finding the exact type of setup you want to focus on. These practicals will involve all the options strategies covered, with each one taking only a few minutes to complete. This will give you the confidence to use our options tools to their maximum potential while saving you huge amounts of time.
The Stocks Summit recordings are all up now and organised into their relevant chapters for easy viewing.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
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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.
