This week’s Market Review will be shorter than normal due to more travelling, and I’m grateful for Jay’s “Time Poor” filters which have dramatically shortened the time I took to produce this Review.
As I mentioned last week, a retest of the 200-dma for the S&P would be ideal.
That’s now in the process of happening.
So here we are at an important level for the the S&P. The QQQ is also retracing but still above its 200-dma, while the DIA and IWM are hovering between their 200- and 50-dma’s.
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Before my Market Outlook for the week ahead, just to remind you of an important update that we’re working on among others (listed at the end) …
- Personalization is on its way. I’ll have updates for you shortly as to when you can save your settings for our charts so you always see them according to your preferences.
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’ve publicly leaned towards short-term upside and medium term uncertainty.
Last week I said a pullback to test the S&P’s 200-dma would be ideal, and here we are!
… now the S&P, QQQ and a host of stocks have shot up through their respective 200-dma’s, it would be a welcome scenario if they could have a little test before resuming their upsides.
If they do consolidate around these levels and poke up again, then the medium term will be bullish …
This still stands, so the next few days could be very instructive for the coming weeks.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Half green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
The OVIs for the SPY, DIA and IWM are struggling a bit, while the QQQ’s OVI has popped up in the last day.
Stock Selection:
Due to time constraints, today I have focused on Jay’s “Time Poor” Fast Filters, which is exactly what they’re built for. His parameters are for moe constrained, meaning fewer selections, but more tougher criteria for Big Money Footprints being present. If you have VIP status, do give them a try.
We’re still in that zone where “news” is always just one press conference away, but the fact is that we’re around Key Levels, and that’s a place of very key interest for us.
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.
