[OVI Market Review] Rising into the Holiday Weekend

[image] [Unsubscribe]( [image](=) Dear Trader I'm writing this broadcast on Friday morning, so we'll have to see how the day plays out. But I'm confident that today will follow through from yesterday's positive action. As I had commented for several weeks, the S&P has been oversold and now seems the time for an upward retracement. I don't think the bad news is all out yet, and at the very least I'll expect some sort of test of the recent lows, but here is respite, so we'll enjoy it while we can! Over the past few weeks, the strongest stocks have been in energy, and we've had many of them on our watchlist. I've also seen our members play bull put spreads very successfully with a number of them, making excellent percent-on-risk options gains from the smallest movements of the underlying stocks themselves. The great thing about those trades was that they were on solid issues like COP, XOM, XLE, etc in a solid strong sector. Each breakout was technical in nature, and these bull put spreads were picked off without fuss, with significant profits being taken within 24-48 hours. Imagine selling a spread for $0.91 and then buying it back for $0.26 within a day or so. That's what's been happening. Those who attended the Miami Bootcamp will know exactly what I'm talking about. And if you didn't do these, don't worry ... good setups will come around again. As ever, I like to keep my focus on setups around the Key Levels, but I'll also look at over-extended scenarios for low-risk reversals. --- Current Market Behavior: The longer term slower market timer – my OVIsi – is still in the Amber zone. My medium term SPY Swing Timer is now slightly negative but rising out from the oversold area. The OVI is stabilizing so I expect some more upside in the short term. The short term indicator has a strong buy signal. As always, please do not simply follow the arrow signals blindly. Regular short term signals are prone to "noise". All the indices still remain below their 200-dmas and look like they are retracing upwards into the holiday weekend. Market Outlook: Short term we're looking to follow up from yesterday's positive behavior. Stock Selection: I've kept my focus on my usual criteria of consolidations near Key Levels where possible. Application: Today I've run through my Big Money Footprint Fast-Filters, consolidations, and pullbacks for both bullish and bearish directions. I've also used my "Implied Volatility Bullish Divergence with Bullish Big Money Bias" filter. Only a couple of really "nuggety" nuggets, but sometimes that's all we really need! Software Upgrades In the next few days the "Toolkit" will be the only way you can access our applications. This will make things faster and more efficient. Moving forward, all applications will be updated to a new look & feel, which will be completed in Q1 2023. -- 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 about any of my services here >](=) [Unsubscribe]( FlagTrader LLC 5325 8th Street Zephyrhills, Florida 33542 United States 001-872-829-0017