With such high stakes geopolitical uncertainty in the air, a controlled pullback would be a gift.
Overall, you can see from the Dashboard plenty of green in the pies, but that’s likely to diliute in the coming days.
The big takeaway is that you must follow my EDGE trade plan, with partiular reference to P1, protecting your profits early.
If you haven’t done so already, make sure you never miss an alert, software update or market commentary join our free Telegram channel here.
Before my Market Outlook for the week ahead, just to remind you that personalisation of our charts is on its way, so you’ll always see them according to your personal preferences. I’ve green-lit the designs so it’s just a question of scheduling the deployment.
Market Outlook:
Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.
Over many weeks I’d been broadly bullish, albeit with caution. Last week, In light of current geopolitical events, I said it was likely that the markets would be somewhat choppier.
This was pretty much spot on, though the healthcare sector ETF definitely took me by surprise as it had been looking ready for upside.
So, what about this week’s outlook?
While we’re not what I’d call ‘overbought’, a pullback looks the most likely scenario for the main indices. For the SPY, this means to its 200-dma, which isn’t exactly far away in any case.
The fact is that anything could turn on a dime right now, so stick with our sensible guidance of focusing on AAA Big Money Footprint setups and protecting profits quickly.
I focus with particular attendion on the OVI, Shrinking Retracements, Key Levels, and some sort of sideways consolidation setup at the very least.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Half green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
The OVI for all the main indices is pretty much neutral as of Friday’s close.
Stock Selection:
This week’s analysis was performed prior to Friday night’s analysis, but the only surprise was that the longer term OVI Sentiment Indicator (OVIsi) turned from amber to half-green. That hasn’t swayed my outlook for a pullback, and in terms of stock selection I’ve continued to focus on the highest quality Big Money Footprint setups, with OVI, Shrinking Retracements and Key Levels at the forefront of my attention.
This approach – along with the requrement for some kind of sideways setup to break out from. – continues to serve us well.
The key to consistency is to pick your playbook and stick to the best quality setups that conform to it. If the setups aren’t there, keep your powder dry for another time.
My playbook is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are highly desirable but those four are essential to me! With my new VIP filters, I’m also now looking more at overbought and oversold issues.
Go into the ‘Expert Watchlists’ area of the platform to view my Watchlists for (a) all the stocks I cover in today’s video, and (b) a smaller list that warrant a closer look.
** The list of stocks is in the Expert Watchlists area (just click on my image to see them), so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video commentary so you know what my sentiment is on each stock listed. **
Don’t Miss Out:
Software Upgrades:
We’ve deployed some big updates recently, and many more game-changing upgrades will be made in time for the London Stocks Summit on December 6th.
Lined up for later this year:
- A.I. Interfaces:
If you like using A.I. applications, then you’re going to love a particular development we have in the pipeline for you, namely GPT inside our charting application! - More Automation:
This is likely to result in an overhaul of our Home Hedge Fund / OVIcopilot application, relating to Market Timing and even some stock selection.
- Journal Upgrade:
Phase 1 and 2 are both deployed, and there’s much much more to come in due course! - Personalization:
Soon you’ll be able to set your preferences for how your charts will be laid out each time you land on them. I’m personally very excited about that! - Options Enhancements:
Key improvements made to the Pricer and Analyzer, and more to be made soon. - Dynamic Earnings Calendar:
I showed this to the Options Bootcamp attendees and they want it now! - Updated ‘How To’ Video Guides.
We’ve already deployed a handy ‘How To’ click-through guide to help you navigate the platform. We’ll also be upgrading the Fast Filters still further.
More updates are on the way!
Upcoming Events:
Our Stocks VIP Summit in London is on the 6th of December! We’re going to upgrade this event, using the successes from Mayakoba as a blueprint.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
How to Watch This Video:
The best way to watch this video so you can flip through the charts at the same time:
- Log into the members area: https://platform.wisetraders.com
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
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Remember, you can play the video at 1.25x or 1.5x speed if you want to save time! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.
