00:00 There's barely a stock to fret over.
00:04 - No, it's been that, Mark.
00:06 And we were talking about this just even before
00:08 the Netflix and Tesla report.
00:09 And I was making this argument that,
00:10 hey, we're so dang bullish.
00:12 It's probably an argument to be long
00:14 almost every stock going into,
00:16 like if you were just decided,
00:17 every single stock reports, I'm gonna be long it.
00:20 And I'm just gonna play that strategy.
00:22 And I think it would have worked last quarter too.
00:23 You're just gonna buy every stock into the report.
00:26 The ones that go up, go up.
00:27 The ones that go down, the dips off and get bought.
00:29 - So I mean, there's alpha to extract
00:32 from just being long stocks.
00:33 - Well, if you're long tech stocks,
00:36 and we've talked about this, and it's not my concept.
00:39 It's this guy, Ophir Gottlieb out of Chicago.
00:43 - Yeah, we know. - Options trader.
00:45 So, tech stocks tend to see implied volatility go up
00:49 in anticipation of earnings in that two week window.
00:52 And you don't have to stay through earnings.
00:55 If the power gauge is bullish,
00:56 I will stay through the earnings report.
00:59 - Let's see it.
01:00 Okay, so I wanna show two charts.
01:01 First, the SPY.
01:02 This is Chayken Analytics.
01:04 I don't know that we've ever showed this on the screen.
01:06 So we- - Awesome.
01:06 - There you go, let's do it.
01:08 Guys, smash the like.
01:10 - Yeah, we read the chart from the bottom up.
01:12 - All right.
01:13 - Why?
01:14 Because the power gauge ribbon is there.
01:15 So you can see that the power gauge turned bullish
01:18 - Oh, nice. - in mid-March.
01:20 But more importantly, the SPY started outperforming
01:24 the 3000 stocks in the Russell.
01:27 And then right here is Chayken Money Flow.
01:30 And what you see is since January,
01:32 you've had six days of negative money flow.
01:35 Remember, this is an oscillator.
01:37 It's supposed to go below zero
01:38 like it did back in September and October.
01:41 What does this tell me?
01:42 Persistent accumulation in the large cap index.
01:46 And then we go up to the top of the chart
01:48 and where are we finding support?
01:51 21 day exponential average,
01:54 which is a logical place for a strong market
01:57 to find support.
01:58 So where is that now?
02:00 It's about 44.50 on the S&P.
02:04 It's 4.15 on the SPY.
02:09 That implies that the only kind of pullbacks
02:11 you're gonna get are 1.5 to 3%.
02:14 So down to a rising 21 day average.
02:18 Now let's look to the left
02:20 and you see all the stocks in the S&P
02:23 ranked by power gauge.
02:26 But the number that's key is what we call our power bar.
02:29 183 stocks with bullish ratings.
02:32 That's pretty much the max you can get.
02:34 Only 69 with bearish ratings.
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