The S&P’s 200-dma did its job as we anticipated, acting as support as the markets have ground upwards.
This is not a market that’s been pulled by unstoppable forces. It’s generally made hard work of things, but our upwards bias has continued to be the correct call.
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.
Again, we’re remaining broadly bullish, but as I’ve consistently said lately, you have to set conservative profit targets, protect profits strictly, and be super selective with your trades.
That means I want to see several Big Money Footprints, giving a clear indication of buyer/seller dynamics.
OVI, Shrinking Retracements, Key Levels, and a sideways consolidation setup at the very least.
As I mentioned last week, I want lots of evidence of pent-up demand, and even with that, I’ll manage every trade very tightly.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Amber. - Medium Term Swing Timer:
Bullish. - The Main Indices:
Mildly blue for the SPY. Unambiguously blue for the DIA, IWM and QQQ.
Stock Selection:
Today I used my Four Big Money Footprints (bullish) Fast Filter and constrained it further by looking for setups around their 50 and 200-dma’s.
I also looked specifically for consolidations and Shrinking Retracements.
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.
