It’s been a great week, with countless winners originating mainly from our classic OVI setups, and also from our Implied Volatility Divergence setup.
There are more nuggets this week!
Last week I mentioned that the setups looked good despite choppy conditions, and if you did “Trade What You See”, you’d have had a good week.
As reported, it was tech stocks leading the charge, typically near their Key Levels and with other Big Money Footprints in evidence.
I also used my short interest filter where a few interesting stocks have appeared such as WKHS (over 40% short interest) and FUV, LI, NKLA, and XERS with over 30% short interest. With the right kind of support from other Big Money Footprints, these stocks can break out violently, so it’s a good filter to add to your arsenal in the right context.
Despite the positive outlook, please continue to be fussy about your selections and vigilant with executing my trading plan.
Market Outlook
Like the last two weeks, tech stocks had a good week, and longer term inflation fears have subsided somewhat.
Here’s what I said last week about that:
I’m no economist, but if the supply chain can hold it together – and there is certainly evidence to suggest it has wobbled over the last few months – then my guess would be that inflation will settle down again.
As with the last three weeks there are some classic OVI setups forming right now, so we’ll focus on them today.
Software Upgrades
We’re deploying the WiseTraders rebrand this week, and once that’s completed, we’ll be focusing on the medium-term market oscillator in the OVI Markets Daily area. This will soon be followed up with a shorter-term market oscillator, so that area will then have longer-term, medium-term and shorter-term timing indicators.
We’ll also be focusing on releasing the new OptionEasy Strategy Analyzer with its new features, and accelerating the big project to align our charts, watchlists and TradeFinder applications.
As ever, keep a lookout for news on all our progress so you know what’s in the pipeline to help us all be better and more efficient traders.
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In this week’s market review, I’m highlighting some very decent looking Big Money Footprint stocks setting up near Key Levels, some short interest setups (see the stock names above for those) plus a few implied volatility divergence setups.
Again, stay fussy and make sure you protect your profits early.
