Lots going on in the world and yet the market has continued to demonstrate its resilience as shown by price action and OVI behaviour.
This is one of the reasons I don’t pay too much attention to the news. It’s mainly drama and noise, and people who don’t know how to invest properly always try to fit the news to what they think should happen, invariably causing confusion and getting it wrong.
Our way of trading is much simpler and without all the drama. The OVI gives us a great idea as to how the pros are trading and we simply follow them when we get a strong enough signal. It’s all proven by cold numbers now, so there is simply no reason to change our successful habits.
Note what I said last week:
Remember, all I look at is the chart and the OVI, nothing else. This is what gives me the ability to make good calls over and over again. With time, looking at the charts the same way I do, many traders pick up on this intuition.
Apart from the fact that we’re so often on top of things, it’s a wonderfully simple way of interpreting the market because we really only have two things to consider. This enables us to avoid confusion or analysis paralysis.
We’re still in earnings season with AAPL and AMZN reporting this week along with a number of others. So be careful with those and watch my video in the link below.