The OVIsi is our longer term market timer used to determine the long-term outlook of the overall stock market.
This section gives you a quick summary of the OVIsi reading over the past 20 days. The OVIsi circles can change colour if either one of the OVIsi components shift from bullish to bearish and vice versa.
You’ll find detailed information about the different components of the OVIsi in the little information button at the top right corner of the application.
The OVIsi is updated each day, so be sure to look each day. Sometimes the circles may change colour, but often they will remain the same colour for an extended period of time. This is expected behaviour from a longer term indicator.
A summary of the 20 day OVIsi is also available under the OVI Dashboard. This allows you to identify long-term and short-term market sentiment at a glance.
For more information about the OVI Dashboard, see OVI Dashboard User Guide
You’ll find a breakdown of the three OVIsi components here. The OVI chart on the S&P 500 allows you to load up to 14 years of historical data on the OVIsi.
You can zoom in on a particular time frame in the chart or view the full 14 years of historical data as a whole.
Use the chart and see for yourself how the OVIsi performed during periods of high uncertainty in the markets. A great example would be the Covid-19 crash in 2020. This will give you a better idea of its recent past performance.
This is a summary of the historical performance of the OVIsi v2.0.
At the bottom right corner of the app, you’ll see a link to view the OVIsi v1.0 chart. The v1.0 is a less robust model and an older iteration of the current OVIsi v2.0.
To learn more, see OVI Market Timers User Guide