In this video, we dive into the OVTLYR Trading Room for another live session where we break down the market, analyze stocks, and look for trading opportunities. We ran into a few hiccups with the platform as updates were being pushed, but we made the most of it by reviewing some solid stock setups. Here’s what went down:

We kicked things off with a quick market overview, mentioning a bug in the platform’s screener that Mahesh, one of the developers, was actively fixing. Once that was out of the way, we dove right into some stock analysis. Today’s focus was on Citibank (C), Etsy (ETSY), JPMorgan (JPM), and XLF.

Key Analysis:

Etsy (ETSY) stole the spotlight today. We identified a 6.93% positive return on a short setup, confirming it’s in a strong downtrend. This one’s been sliding since July, down by 11%, and looks primed for further downside.

Citibank (C): Yesterday, it showed potential, but today, it’s still sitting in an order block, so not a trade for us just yet.

JPMorgan (JPM): It’s not ready either—still waiting on the right crossover to confirm a move.
XLF: Another one we passed on due to a lack of alignment in the moving averages.

We also took a look at General Motors (GM) and Nike (NKE), but neither hit our criteria for a trade. GM is showing weakness, but it’s still moving sideways, and Nike didn’t have the necessary red overlay to confirm a short. However, Space (SPCE) was a different story. It’s in a clear downtrend with a recent sell signal on August 29th, down 8% over seven days—definitely one to watch.

The strategy we focused on today revolves around the 10, 20, and 50-period moving averages. We’re looking for alignment across short, intermediate, and long-term trends before jumping into any trades. Without this confirmation, we stay on the sidelines—no exceptions.

Sector Check:

Most sectors are bearish, with the exceptions of real estate and staples. Market breadth is clearly negative, so we’re leaning toward more short setups. However, it’s important to stay patient, especially when market conditions are this choppy.

Final Thoughts:

Even though we didn’t get into as many trades as we hoped for today, the key takeaway is sticking to the rules and waiting for the right opportunities. We’ll be watching Etsy closely for tomorrow. If it continues its downtrend and moves back under the 50-period moving average, we’ll look to get in.

If you’re a trader looking for a disciplined approach to the market, this session is a great example of staying patient and following the rules. Even when the setups don’t immediately hit, being market-aware and waiting for the right conditions can save you from making bad trades.

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