A weak close on Thursday keeps the markets on the same knife edge I’ve been talking about over the past two weeks.
The only conundrum is that we’re right in the middle of earnings, which means momentum can turn on a dime.
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While markets can be challenging, meaning harder won profits, there is one problem factor that is always avoidable … Ignorance.
Even the attainment of the right knowledge and the implementation of a proper plan will not guarantee perfection – nothing can do that.
Nor can it guarantee the exact same results month after month – again nothing can do that because the markets are not linear every month.
But what authentic knowledge and a proper plan WILL ensure is that you’ll avoid making mistakes through ignorance.
Ignorance is an account killer, and the biggest area of ignorance in trading is with options.
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When it comes to options there are many pretenders.
One of the ways to ensure you don’t make a mistake based in ignorance is by having tools that give visibility of what you’re doing.
My Miami Bootcamp is just seven days away now, and it comes loaded with user-friendly tools to ensure that you will never make a mistake based in ignorance.
It’s always an exciting time of year, and I love this challenging yet hugely fun event where we see the biggest transformations among my members. For some it has been life-changing.
Don’t miss out. If you’re interested, speak to my team
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Current Market Behavior:
The longer term slower market timer – my OVIsi – is flipping around regularly, exemplifying the very fine margins of current market conditions.
My medium term SPY Swing Timer is negative and not quite oversold, while the Short Term Timer’s recent bullish arrows are invalid due to the S&P’s negative OVI.
Again, please do not simply follow the arrow signals blindly.
All the indices remain below their 200-dmas as we go into the rump of earnings.
Market Outlook:
I said in both of the last two weeks that “short term still looks uncertain”.
You could say that again … so I will, again!
Stock Selection:
A couple of nuggets today because there are a number of consolidations. My focus has been to identify them near Key Levels.
Application:
This week I have focused my searches on consolidations near the Key Levels.
Software Upgrades
More deployments are imminent in time for Miami, and I can’t wait to show them off there and in the following weeks.
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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.