We had a great time yesterday with the Foundation Day training session.
Now for the main course this coming Saturday … the Strategies Day.
For anyone who hasn’t yet enrolled there is still time … just!
I’ll be showcasing our new software, some of which you can see in today’s Market Review.
Apart from saving you around 60% of your time, you’ll have a much richer experience in that fraction of time, meaning you’ll improve quicker than you could have imagined. Plus, you’ll be able to append notes and your trade plan from the chart screen … there are a host of reasons for getting on board with this event before it’s too late.
As for the markets … as the subject title says … My prediction is Whipsaws.
On Friday the markets were spooked by the new variant that could result in another wave of lockdowns around the world. Travel stocks took a beating as you’d expect, as did the broader market. The S&P started its mean reverting journey downwards as I’ve suggested was inevitable for some time.
Here’s my take on the situation … and I am no scientist.
No-one yet knows how serious the new variant is. However, the world is in a much better place to deal with it than it was almost two years ago. Vaccines can be adapted very quickly, rather than being developed from scratch. New anti-viral drugs are being released imminently without the need for vaccines.
So,even in the event of short term bad news, I believe we are equipped to steer ourselves into better waters pretty quickly.
And this is why I expect the markets to whipsaw around while events sort themselves out.
Another factor that is influencing me is that we are near the end of year, and there is bound to be some profit-taking incentive for those that need to pay their taxes, etc.
Look at my words from last week … spooky!!
“The market is still displaying bullish signals, but with the S&P I caution that it is still a long way away from its 50-dma and has been for some time. At some point it will revert to mean as the Dow has started to do. There just needs to be a catalyst and it can happen quickly.”
As I said … spooky!
Right now the Medium-Term Timer is oversold. Often this is a great place from which to go long. I would like to see a further move down from the S&P to its 50-dma for the probabilities to really start stacking up in that regard.
Our new shorter-term market timer is looking very promising. I’ll be talking about that in the coming weeks, and will make it available in the OVI Markets Daily area. The idea for that is to be able to trade S&P as an ETF/Stock all on its own.
This is a good week to learn your craft and observe. There are a few nice looking setups in today’s review though. Take a look and see what you think.
Today I’ve used bullish and bearish Fast Filters, and using the new software my time on the job was more than cut in half.
The new Watchlist/Charts/Profile/Journal app is out in Beta for VIP members attending the London workshop, and in this Review you’ll see how much time it will save you, while making your experience so much richer.
Make sure you don’t miss out. Enroll for my WiseTraders Event for 4th December before it’s too late. Strategies Day is not to be missed!
As I mentioned last week, we’re already starting on a new charts upgrade too … another game-changer on the horizon!
Remember, you can play the video at 1.25x or 1.5x speed to whizz through it faster if you like! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.