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That Fabulous Run Was Indeed Overbought!

Another spot-on commentary last week as I cautioned the market was close to being overbought.

In fact it did turn out to be overbought.

Indeed I’d mentioned a few times that earnings season was likely to be bullish, but that run was likely to be connected with earnings, and thereafter would likely peter out.

So, now the market is taking a well-earned rest … What’s next?

My analysis is that the indices will not be bouncing back this week, and are more likely to find their ways back to Key Levels in due course.

As I look at my most trusted market timing tools this week, they’re not all completely aligned.

Market Outlook:

Right now the market is likely to continue its pause, and perhaps slide further towards the big Key Levels.

Watch the video for more detail.

The Main Indices:

The SPY has had a great run, and is now resting.  
The QQQ has had a rapid run, and is now resting.
The IWM was overbought and has stopped in its tracks.

Again I was right in saying last week that the current upswing would probably not last past earnings season.

Market Timers:

  • Longer Term Market Timer (OVIsi): As predicted, it turned half-green last week.
  • Medium Term Swing Timer: Positive and not overbought.  
  • SPY OVI: Choppy and wobbling.

Continued sideways to lower movement looks most likely.

Fast Filters Stock Selection:

Last week was less “nuggety” due to many stocks being overbought. My guidance to ‘not chase’ was very timely!

The same applies this week.
Here is a smaller list of stocks that look interesting for our consideration – remember to reference the video so you know what my sentiment is on each one:


Software Upgrades:

We make options “Easier than before, and Easier than everyone else“.

Progress is moving swiftly for amazing new tools to be deployed before our Miami event.

Also, new filters and algos are on the way!

The formula for short-term overbought stocks is finalised, and I’m adding a similar approach for short-term oversold. That’s going to be super useful for bear calls and bull put spreads in time for Miami!

My approach to shrinking retracements is also on track to be deployed in time for Miami. This will be a complete game changer.

So, in time for Miami you’ll see new features such as looking up options strategy analyzers directly from the charts, followed by a massive upgrade to the Journal area for stocks and options soon after. That will be followed by an entirely new charting app in the summer. So many exciting developments that will completely transform our experience.

Stay in touch to discover more as we unveil best-of-breed applications!


The OptionEasy Bootcamp on 22-23 April is only around the corner, and with all the upgrades coming, it will be our best ever. It’s at the National Hotel on South Beach Miami, and we’ll also be broadcasting live and recording it. I will be unveiling more upgrades and findings, making all of our trading more precise and more efficient.

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.

PS. If you’re interested in any of our OVI trading services for stocks or options such as a fast-track mentorship or workshop event, book yourself an appointment here to speak with us. Many of our members aren’t aware of all the services we offer to help you become a more ‘informed’ and confident trader with the OVI. Remember, everyone is an individual, and we ensure that we can cater to you and your particular needs.

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