It’s just a few days until our big Orlando Bootcamp! Get ready for further chart upgrades/fixes and new “toys” for attendees before and after the event that will transform the speed at which you can find optimal options ideas … literally in a single click directly from the charts!
Last week the Foundation Day was a great success, where I went through the basics and theory behind options. We recorded it, so even if you missed it but want to attend the Bootcamp, you can view it later on.
Starting this Saturday, the two-day Bootcamp will emphasise the PRACTICAL! You’ll be using our new tools, guided by me and my team where each exercise is easy to follow step-by-step.
Soon after the event we’ll be releasing a brand new education suite that has been two years in the making. Here you’ll be able to cement your knowledge with state-of-the art fun learning tools – including quizzes! – all at your own pace.
Onto the markets …
Last week I mentioned that the April 4, monorail bar was likely to kick-start the long anticipated market pullback.
That’s looking like another excellent market timing commentary.
At this point I expect a pullback, not a capitulation. This could mean from 5-8% from the peak or thereabouts.
See below for Market Outlook.
Another reminder, to ensure you keep getting my reviews and communications, please register for our Telegram channel here.
https://t.me/wisetradersovi
How to Watch This Video:
The best way to watch this video so you can flip through the charts at the same time:
- Log into the members area: https://members.wisetraders.com
- Click on Platform (top right)
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
** These Market Reviews will change soon. Please keep an eye out for this in the coming weeks. **
Market Outlook:
Watch the video for more detail.
From last week:
“While there may be a few twists and turns to come, it looks like Thursday’s bearish monorail bar will set the scene for a decent pullback.”
Right now the Big Seven stocks have shown serious resilience and are propping up the SPY and QQQ.
Our market timing is a real strength that few others possess. Being good at market timing enables you to swim WITH the tide. It’s a crucial skill set for which I’ll have an update at the Orlando Options Bootcamp in just a few days’ time.
The Main Indices:
The SPY and QQQ are clinging onto their 50-dmas, while the DIA and IWM have shot down through theirs.
As I’ve said many times, the IWM will typically show more profound weakness earlier than the others. To that end it’s already down around 6.70% from its peak, with the DIA down 5% from its peak. The SPY and QQQ are not even 3% lower than their peaks … yet.
Keep sticking with our game plan of AAA setups near Key Levels.
Don’t get distracted by missed opportunities.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bearish. - Index OVIs:
Pretty much all in the red to varying degrees.
Fast Filters Stock Selection:
This week I’ve focused on setups exhibiting OVI, consolidations and Shrinking Retracements. It’s time for the market to do its thing to the downside and then regroup.
Remember a chart needs to have the right qualities in order for you to consider trading it.
Pick your game and stick to the best quality setups that conform to it.
My game is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are desirable but those four are essential to ME!
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** The list of stocks is in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video commentary so you know what my sentiment is on each stock listed. **
Software Upgrades:
Some tweaks and fixes implemented last week. This week will see further deployments in time for the Bootcamp, with more coming after. We don’t like to be too aggressive just before an event, tempting as it can be to squeeze in optimal functions in time.
In time for the Options Bootcamp we have added the Fast Filters TradeFinders to the charts, and we’ll do several exercises using them. Further enhancements later this year:
- A link to a broker platform from the enhanced Journal app directly from the charts to make life much easier for you.
Imagine knowing if an options trade is in line with or violates your stated risk parameters!
We’ve already built the calculator engine, it just needs to be deployed. - More indicators to choose from inside our OVI charts …
Not so much for me personally, but I know many members do like to play!
Also, the full mobile phone (portrait) optimization is in the plan for the summer, and more dynamic notifications from inside the application will follow that. Lots to do!
Many more game-changing upgrades will be made soon after the Orlando Options Bootcamp on April 20-21.
Events:
Our Options Bootcamp in Orlando on 20-21 April will be the most practical ever, with 17 exercises and with the most bonuses ever.
Like we just did in London, each session will have a practical exercise for you to complete, so you can build your confidence in finding the exact type of setup you want to focus on. These practicals will involve all the options strategies covered, with each one taking only a few minutes to complete. This will give you the confidence to use our options tools to their maximum potential while saving you huge amounts of time.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
—
—
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.
