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We deployed huge Platform update on Thursday and will be continuing the snagging over the next few days.
Watch today’s broadcast to see how efficiently you can tweak your searches now, so you can focus your energy purely on quality from now.
We’ve made progress on the Broker link too … more about that over the next few weeks.
The markets …
This week having been a short holiday week hasn’t thrown any surprises. The S&P and Nasdaq remain overbought but with further room for upside.
Plum setups are still somewhat thin on the ground, and you’ll see the importance of striking when a stock looks hot near a Key Level … like TSLA a couple weeks ago.
Continue to be the lion! Don’t become a headless chicken just because you missed one.
See below for Market Outlook.
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://members.wisetraders.com
- Click on Platform (top right)
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
Market Outlook:
Watch the video for more detail.
The SPY and QQQ are purring upwards as I write this. Meanwhile the DIA is flat and the IWM is drifting lower.
Next week should give more of a nod as to how earnings season will unfold.
There’s not much real quality out there, which makes life easier in that there’s not much to choose from!
Our market timing is a real strength that few others possess. Being good at market timing enables you to swim WITH the tide.
The Main Indices:
The SPY and QQQ would still benefit from meaningful pullbacks to their 50-dmas but as I mentioned last week, are proving to be remarkably robust.
The DIA looks like it has some upside potential, while the IWM now looks vulnerable.
Ultimately these are tricky conditions with not a lot of conviction to really sink your teeth into. Respect this and be ready with the big guns for when there’s more clarity.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish. - Index OVIs:
The SPY and DIA are blue. The QQQ is flaky and the IWM is neutral.
Fast Filters Stock Selection:
Today’s review took me a record fast time because of the big upgrade we released yesterday.
What it meant is that I could amend my Fast Filters from the charts and quickly whizz through more focused setups without having to switch screens. It’s every bit as good as I was expecting and there are still further improvements we’ll make.
Like the last few weeks, there’s not much out there of real AAA quality this week. If you think otherwise, then your analysis may not be stringent enough!
Remember a chart needs to have the right qualities in order for you to consider trading it.
Pick your playbook and stick to the best quality setups that conform to it.
My playbook is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are desirable but those four are essential to ME!
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. **
Software Upgrades:
The new Learning Vault is out, the new Platform is out, and we’ll continue to make further upgrades as quickly as possible.
Next up is the journaling from the charts which will pave the way for:
- A link to a broker platform from the enhanced Journal app directly from the charts to make life much easier for you.
Imagine knowing if an options trade is in line with or violates your stated risk parameters!
We’ve already built the calculator engine, it just needs to be deployed. - More indicators to choose from inside our OVI charts …
Not so much for me personally, but I know many members do like to play!
Also, the full mobile phone (portrait) optimization is in the plan for the summer, and more dynamic notifications from inside the application will follow that. Lots to do!
Many more game-changing upgrades will be made in time for the London Stocks Summit on December 7th.
Events:
Our Stocks Summit in London on 7th December will be the most practical ever, with half of the event dedicated to practical exercises and with the most bonuses ever.
Like we just did in Orlando, each session will have a practical exercise for you to complete, so you can build your confidence in finding the exact type of setup you want to focus on. Easily by the event, all your TradeFinder activities will be directly from the charts, saving you huge amounts of time.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
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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.
