[OVI Market Review] Thursday’s Monorail Reinforces Bigger Picture

[image] [Unsubscribe]() [image](=) Dear Trader Over the last couple of weeks I’ve mentioned the Magnificent 7 tech stocks need to report their earnings and then the likelihood of a pullback increases significantly. Thursday’s action only reinforced that view. Apple, Amazon announce this week. Nvidia on the 23rd August. I’m not totally clear WHEN the pullback will happen, but that it will happen – and quite soon – is something I AM confident about. As I said: “As mentioned last week, the likely scenario for this bull run is that the giant techs need to report their earnings before this market can take a proper rest.” Thursday was a classic ‘monorail’ (outside) bearish bar, but the market recovered its poise on Friday. A break of Thursday’s low would be a constructive sign to the downside. Our mean-reversion Dashboard pies are not at extremes – and they don’t necessarily get there every time either – but when they do, it sure does make market timing for reversals much easier! By now I hope you’re seeing the beauty of our method, combining broader structures (Shrinking Retracements) with leveraged position-building activity (the OVI) and more micro structures (price/volume/Key Levels) to form a cohesive strategy to trade consistently. Today you’ll see a reminder of just how powerful and quick this technique is with our unique tools. For more detail follow the blue button link below to the blog. [Watch today's OVI market update video here >]() Market Outlook: Even if it’s just an early shot across the bows, Thursday’s action increases the likelihood of a pullback happening sooner rather than later. Friday was a good recovery, but even if we make new highs, I would expect further bearish monorail bars like Thursday to follow in due course. For more detail follow the blue button link below to the blog. The Main Indices: The SPY – The QQQ - The IWM - The DIA - Go to the blog for details. Market Timers: - Longer Term Market Timer (OVIsi): Still full green but slowing slightly. - Medium Term Swing Timer: Bullish and not overbought … yet. It’s now flirting again with being overbought. One of these days it’s going to be official, and meaningful. - Index OVIs: All the main index OVIs are neutral to negative, and in the QQQ’s case not even neutral. This is somewhat divergent to price action. Go to the blog for more detail. Fast Filters Stock Selection: Fewer nuggets, but a few nevertheless. Today I’ve included a couple of bearish setups along with some post earnings setups in both directions. Please view the blog for a smaller segment list that you can focus on for the week, though after next week this will only be able to be seen by logging into the platform. --- Software Upgrades: Next week we’ll be deploying the new Expert Watchlists function – this will have profound implications moving forward. The Journal app calculator and embedded TV will follow. Then the big charts upgrade and by popular demand, the broker API. Also the Shrinking Retracements will soon be deployed as TradeFinder filters in VIP areas in their own right. So, many game-changing upgrades will be made in time for the London Stocks Summit on December 2nd. Stay in touch to discover more as we unveil best-of-breed applications! Events: Our Stocks Summit in London on 2nd December will be the most practical ever, and with the most bonuses ever. 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 include Market Timing and specific stock strategies, and will only take 15-minutes for you to complete. This will give you the confidence to use our tools to their maximum potential while saving you huge amounts of time. We’ll have the Foundation Day online the Saturday before the big event so we can focus on more of these practicals during the event. -- 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. [Watch today's OVI market update video here >]() Bye for now Guy [image](=) PS. If you're interested in any of my OVI trading services for stocks or options such as a [fast-track mentorship](=) or [workshop event](=), book yourself an appointment [here](=) to speak with one of my trusted team. Many of my members aren't aware of all the services I offer to help you become an established consistent winner with the OVI. Remember, everyone is an individual, and I ensure that I can cater to you and your particular needs. [Speak to a team member to get your ideal package tailored just for you >](=) [Unsubscribe]( FlagTrader.com Ltd 1 Dawes Court Esher, Surrey KT10 9QD United Kingdom +44 (0) 203-865-3584