An intriguing phenomenon last week, where the markets continued to slide, but nearly every one of bullish setups reached our first profit target (P1).
A robust Friday two weeks ago looked like providing temporary relief to the markets, a thought that was immediately dispelled on the Monday.
So here we are again with another robust Friday, and this time looks like a stronger case for a pause (even if temporary) from the downslide.
Why is that? Because we’re further oversold, and our Medium Term Timer looks like it’s turning back up from its oversold reading.
Just to remind you of two important things …
- We’re now testing our smartphone optimized version of the Platform for imminent release. Imagine finding Big Money setups while you’re on the move on your smartphone device.
- There are just 7 weeks until our Options Bootcamp in the beautiful Mayakoba!
To make sure you never miss an alert, software update or market commentary join our free Telegram channel here.
Market Outlook:
Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.
Last week I said we were bearish AND oversold, and more information was needed for a more definitive forecast.
This week I’m going with simply short-term oversold. I expect some kind of pause or pullback this coming week.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Yellow. - Medium Term Swing Timer:
Oversold. - The Main Indices:
The IWM remains deeply red, while the other indices have retreated to neutral if only for one day so far.
Stock Selection:
This week I’m looking in both directions again with a big emphasis on at least four Big Money Footprints on display. It’s still a challenging market with lots of news-inspired whipsaw potential, but if you manage your trades strictly according to our Trade Plan (our third Master Key), then last week demonstrated that you can still squeeze profits from the best OVI setups near Key Levels.
The key to consistency is to pick your playbook and stick to the best quality setups that conform to it. If the setups aren’t there, keep your powder dry for another time.
My playbook is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are highly desirable but those four are essential to me! With my new VIP filters, I’m also now looking more at overbought and oversold issues.
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. **
Don’t Miss Out:
Software Upgrades:
Improved design inside the TradeFinders are making them look nice and tidy – that was done immediately after the Journal upgrades that I demonstrated during our VIP Group 1-2-1 training sessions.
Many more game-changing upgrades will be made in time for the Mayakoba Options VIP Bootcamp on May 3rd – 4th.
We’ve got some big updates lined up for this year:
- A.I. Interfaces:
If you like using A.I. applications, then you’re going to love a particular development we have in the pipeline for you, namely GPT inside our charting application! - Focus on Stocks that Could Move Bigger and Faster:
Soon I’ll have a filter you can use for stocks with potentials for larger moves in either direction.
- Journal Upgrade:
Phase 1 and 2 are both deployed, and there’s much much more to come in due course! - Mobile Experience:
It’s only around the corner now … our mobile platform will start its roll out, complete with dynamic notifications to enhance your trading experience. - Options Enhancements:
The Pricer has been upgraded in plenty of time for Mayakoba – take a look at the percent-to-double calculations!
More key upgrades to our options tools are coming soon, alongside major research insights we can’t wait to share with you. - Updated ‘How To’ Video Guides.
We’ve already deployed a handy ‘How To’ click-through guide to help you navigate the platform. We’ll also be upgrading the Fast Filters still further.
More updates are on the way!
Upcoming Events:
Our Options VIP Bootcamp in Mayakoba is on the 3rd and 4th of May! It’s going to be our best event ever! Rooming details are available and rooms are almost all booked up now.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
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://platform.wisetraders.com
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
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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.
