Again, greetings from the mainland of Greece!
Although it was a sideways week, the SPY, QQQ and DIA remain technically overbought, but earnings starts this week, and the markets are clearly in an optimistic mood … Let’s see what the next wave of Tariffgate brings!
As with last week’s theme, let’s still keep away from technically extended issues, and focus on those that are near our Key Levels. As much as anything that also helps us with risk control.
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.
In the absence of an unanticipated news event, and despite the overall overbought look of the main indices, the markets are looking optimistic for earnings.
That doesn’t mean we chase overstretched stocks, and it does mean we’re likely to miss out on some of their further upside.
But there are still plenty of interesting setups near our favorite Key Levels, so we’ll continue to focus on those ones, which are also exhibiting bullish OVI and Shrinking Retracements.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
As per the last couple of weeks, the OVI for all the main indices is pretty much blue as of the end of the week.
Stock Selection:
Managing risk in your trade management is essential. All too often I see systems and gurus ignore it.
The WiseTraders EDGE trade plan is excellent at its primary function of controlling risk, our Big Money Footprints (BMF) setups also contribute significantly to controlling risk.
When you trade our optimal setups, you’re typically only entering positions on confirmed breakouts of consolidation-type patterns near Key Levels, with no anticipated news imminent, and with several significant and tested (BMF) indications present that suggest an enhanced probability of a conservative first profit target being hit.
That’s how we increase our win ratios, and that’s still before we even get to the specifics of the optimal exit plan.
In this way you can see our holistic approach, which is exemplified by our 3 Master Keys: Market Timing, Stock Selection, Trade Management.
This week I focused again on Big Money momentum setups that still look promising and haven’t yet taken off.
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! Increasingly, I’m researching the resulting impact of very short term momentum, and 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.
