The ultimate OVI setup will have all the Big Money Footprints present.
With my Fast Filters I do have variations, but the one Big Money Footprint I’ll never compromise is some form of OVI (Options Volatility Indicator) presence.
This is because the OVI is the only Big Money Footprint that can be empirically proven to work on its own with nothing else present, not even a trade plan!
Now, with our guided discretionary trading we must have a trade plan, and it is also necessary to work within the framework of including our other Big Money Footprints. Otherwise you would quickly be overwhelmed with too many choices.
I also want to see a consolidation of sorts, and where possible the presence of shrinking retracements. The idea being that we can readily identify who has more power at a particular time, buyers or sellers, and then we pick the winning team for a higher probability trade … of course subject to our trade plan.
So, the bottom line is that I create variations in my Fast Filters. I don’t demand all four Big Money Footprints being present in all my Fast Filters because sometimes one’s omission may be very marginal. But I always demand an OVI presence, even if that itself is a marginal OVI signal.
In today’s Market Review I have mainly Big Money Footprint setups, and a couple of implied volatility divergence possibilities.
The OVIsi longer-term indicator is still green, while the medium-term timer is currently neither overbought nor oversold. In fact the medium term timer has been positive (with one blip) for some time, so even with the awkwardness of choppy conditions I have to make my focus to the bullish side, albeit highly qualified.
Again, the idea is higher probability trades in a higher probability market … and as always, only Trade What You See!
I have an idea – to add to the many in the pipeline – to make our “Big Money Bias” stocks into a searchable watchlist. I’m confident that it’s not a massive ask to my tech team, so look out for that before December.
The Short Term Market Timer adjustments that I’m looking to make will take a while, but I’m happy right now with our Medium and Long Term Market Timers.
For our options Bootcamp members, we look to be on course for our first Mastermind session in the latter part of August, where I will showcase the new Analyzer.
Now my new laptop is operational, I can now start to populate all of the OptionEasy TradeFinders with new FastFilters. You’ll see that we’ve already streamlined that area.
And hopefully in time for December, we’ll have aligned our charts, Watchlists and TradeFinder applications in a very big win for everyone!
This week’s market review has some nuggety stocks and nuggety nuances … and a guest appearance from a koala!