I am sorry, but to be precise there is not.
But keeping in mind that the final output will not be choppy(of course, when you choose right output preset)
You can try rendering only small parts of the timeline which you want to see, by setting the work area bar.
Complete your editing and then give a final render to view what you have created
John is right on the nose.
What model of camcorder is your MOV video coming from and what resolution is it? Have you ensured that your project settings match your video? If so, you will NOT see red lines above the clips when you add them to your timeline?
And have you ensured that no photo is larger than 1000x750 pixels?
Welcome to the forum.
When aspects of a Clip on the Timeline are changed, say with a Transition, and overlay (such as a Title, or PiP), or an Effect. Those changes will be reflected on the Timeline, with a red line appearing above the Clips, where changes were made. If you have two Clips, which have been Rendered, and have a green line above them, then add a Transition between them, the line will turn red, over the Duration of the Transition. For smoothest playback, one would need to Render again. This ARTICLE goes into more detail on Rendering.
When you drag your Clips to the Timeline, is there any colored line above them initially. If there is no line, then the Project's Preset matches your Clips' properties. If you get a red line, initially, that means that there is a mis-match. Note: When Still Images are placed onto the Timeline, there WILL be a red line, as PrE will need to "convert" the Still Images to Video. That is normal. If the Still Images have been Scaled to match the Project's Frame Size, playback of them, even with the red line above, should be adequate, so Rendering of them is probably not necessary, until one is looking at the final edit, prior to Export/Share.
Steve covers the matching of the Source Files and the Project's Preset, and also the Scaling of your Still Images.