Well, it wasn’t so much Blue Monday, but Red Tuesday!
The SPY, DIA and QQQ gapped down on Tuesday and by and large had recovered by Thursday.
There’s not a lot of analysis that can account for that kind of behaviour!
The first couple of weeks of earnings have been skewered by finanical stocks reacting negatively to warnings about credit card interest charges being capped, and other factors.
But there’s still a long way to go, so let’s not write off earnings just now.
As we now get into the heart of earnings season, be patient … There is a case for dry powder.
Great setups and agreeable market conditions will present themselves. And do make use of our amazing Earnings Calendar application!
Again, please participate in our Telegram groups.
Last week I shared some of Chloe’s insights and her daily thought process. Someone just like you who has learned how to tame the markets with phenomenal consistency over several years, 18X’ing her account in the process with a near 80% win ratio.
I’ll be doing that more regularly, and I can see it’s resonating.
If you didn’t take the 15-minute refresher session with one of my team last week, grab a spot here.
And just a reminder of our Options Bootcamp in Mayakoba, Riviera Maya, Mexico on 9-10 May. In two weeks’ time I’ll be broadcasting from there!
When it comes to responsible options, no one does it better than us or our tools, so if that sounds interesting, have a chat with us here.
Market Outlook:
The peculiar start to this earnings season continues.
Still a long way to go, and the indices have bounced back for now.
It’s pretty clear that it’s going to continue being bumpy, so my guidance this week is to be super fussy, only go for post-earnings setups and don’t let profits slip away … Protect them early.
Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish, just. - The Main Indices:
Like last week, another hodgepodge with no pronounced insights – which is very rare!
Stock Selection:
The Earnings Calendar is paying its way – such a great tool.
This week my focus is to ensure I avoid stocks with imminent earnings. Again, the Big Money Footprints I focus on most are OVI, Trend Fade and Key Levels.
** Remember, managing risk in your trade management is as important as trading with higher probabilities. This is very much part of the WiseTraders method, and is our third Master Key. **
Look in our Gift area inside the Platform to watch “How to Cap Your Losses & Protect Your Profits“.
Increasing your probabilities with a logical proven system is an essential part of trading. But you also need a rock solid trade plan that tilts the odds further in your favour.
Our EDGE Trade Plan does exactly that, and you will find trading so much more rewarding and peaceful if you adhere to its principles.
My goto playbook is OVI, near Key Levels, Trend Fades, 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:
More game-changing upgrades will be made in time for the Mayakoba Options Bootcamp on 9-10 May.
Lined up for later this year:
- Market Timing:
A significant upgrade to our Market Timing and Dashboard area is in the works. Stay tuned for any announcements.
- 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! - More Automation:
This is likely to result in an overhaul of our Home Hedge Fund / OVIcopilot application, relating to Market Timing and even some stock selection.
- Options Enhancements:
Key improvements have already been made to the Pricer and Analyzer, and more to be made soon. - Dynamic Earnings Calendar:
First release made and more improvements to follow.
More updates are on the way!
Upcoming Events:
Our Options Bootcamp in Mayakoba, Riviera May, Mexico is on May 9-10th! It’s going to be super practical, using all the new enhancements to be released especially for the event. Don’t think you can do options? I’ll prove you wrong!
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.
