Those are the words of a fund manager, so if you feel like these conditions have been challenging, you’re not alone!
In terms of market timing, the writing was on the wall by Monday’s low close in terms of my forecast of some possible relief. There was no relief.
One of the signals I have commented on recently is the paucity of Post earnings. Here’s what I said about that last week:
“Post earnings has been a damp squib, and that may play a part in evaluating the next few weeks.”
Also, as I mentioned last week …
- Get ready … very soon we’re going mobile! Imagine finding Big Money setups while you’re on the move on a smartphone device.
- Time is flying by … There are just 8 weeks until our Options Bootcamp in the stunning 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.
This is an undeniably nervous market, but our Medium Term Timer says it’s oversold right now.
It’s not often that I don’t give a definitive direction or market condition, but today is one of those rare occasions!
The OVI and Medium Term Timer suggests bearishness but also oversold. If and when there is a meaningful reversal day, then I could be more strident. For now I’m saying more information is required.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bearish and oversold. - The Main Indices:
Only the DIA has a vaguely blue OVI. The other indices have red.
Stock Selection:
This week I’m looking in both directions, but it’s what they call a “low dollar market” in that general conditions aren’t easy and there aren’t many slam dunk no-brainer setups.
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:
Journal Notes are now showing up on your charts!
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 – take a look!
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.
