Tech stocks have weathered the broader market storm very well, the Nasdaq holding firm while the S&P, Dow and Russell have taken a hit this past week.
As you might expect, the vast majority of constructive setups are with tech stocks, which we’ll focus on today, and there are some really good setups to consider.
We’ll also focus on setups forming near Key Levels, and also there are a few implied volatility divergence plays to consider, albeit with certain caveats.
Please continue to be fussy about your selections and vigilant with executing my trading plan.
Like last week, tech stocks had a good week, and cyclicals had a bad week. Inflation fears are gripping the markets, but time will tell whether this is a temporary situation or something more concerning.
I’m no economist, but if the supply chain can hold it together – and there is certainly evidence to suggest it has wobbled over the last few months – then my guess would be that inflation will settle down again.
As with the last two weeks there are some classic OVI setups forming right now, so let’s focus on them.
The OptionEasy Pricer is fixed, stable, and the new option profile popup is working when you click on any option. Next up is the new Analyzer with its new features.
The new short-term market timing oscillator should be deployed along with the rebrand by the end of the month.
Keep a lookout for news on that as there will be a flurry of activity coming soon.
Once I have something to show you regarding the new Analyzer functions we’ll hold our first Mastermind session. Usually I would have held it by now, but with new tools being deployed I’d rather make the most of our sessions to show you those.
In this week’s market review I’m highlighting some very decent looking Big Money Footprint stocks setting up near Key Levels, plus a couple of implied volatility divergence setups.
Just stay fussy and make sure you protect your profits early.