The S&P and Dow are both making new highs, but extended stock setups still pose dangers.
The safest setup right now is a consolidation above a Key Level where the OVI is corroborating with a bullish sentiment.
Earnings has been mixed, with pre-earnings being higher risk this time around. Last summer it was a breeze, and hopefully next time around will be easier too, but this time you can see how unpredictable it’s been.
Ultimately we want to trade in smooth waters where stocks break out cleanly to our P1 levels. That’s always our primary objective.
When conditions aren’t so favourable we have to adapt within our own parameters, and right now the breakout from Key Levels like the 50-dma is still working well.
So, today I’ll be showing a number of setups forming around that level.
Before the review video starts this week, I’ve taken a few minutes to talk about a situation we encountered with Royal Mail who took it upon themselves to destroy the gift boxes we had mailed to our Options Bootcamp attendees in a completely unnecessary act of vandalism.
If you were affected by that, rest assured, I have ordered and organized new gift packs for you.
Even if you weren’t affected, in my video today I want to highlight how seriously we take you as our valued members, and how we work with you to keep innovating so we can be the very best.