Even when conditions have been challenging, it pays to be observing closely, because opportunities happen quickly in the markets. Just look at the past couple of weeks.
There are only 21 days until our big Summit Strategies Day where my new filters will help you make the most of setups as they’re forming.
In today’s preview you’ll see how many reviewed stocks from last week ticked to the upside, and how we determined that the market was more likely still bullish.
In a nutshell, in just a few short minutes you’ll see the benefit of our excellent Market Timing and Stock Selection process that itself only takes a few minutes.
As I review last week’s stocks, you’ll also see the joy in focusing on OVI setups near Key Levels. It’s a game-changing tactic where you can find the specific optimal setups in a single click with our VIP TradeFinder.
While the market is not quite out of the woods yet, it’s getting clearer that it’s likely that the worst is over. I’ll explain …
The current upswing since mid-October is being accompanied by a combination of greater volatility, mixed participation and likely near-term exhaustion, so I do expect this up move to take a breather soon – possibly coinciding with the end of earnings season.
However, what comes next is the key point. The next move down may well be the final one before this market finds its feet again and becomes more technical and EASIER to trade.
So you will need to be on your toes because you can only win if you’re prepared and ready to act.
Our record of Market Timing and Stock Selection should give you confidence – even in what have been tricky market conditions. So think how much easier it will be in more technical market conditions!
There’s still more juice in this up-move, but there is resistance for the S&P up ahead, and timing-wise this is likely to coincide with the aftermath of earnings.
The following move down will likely be the final one before the market starts a broader recovery.
Watch the video for more detail.
The Main Indices:
The DIA blasted through its 200-dma. The IWM is just poking out from its. Both the S&P and QQQ have broken their 50-dmas.
As per last week, it’s likely that the remainder of this up-swing will be short-lived before the next down-ward retracement.
- Longer Term Market Timer (OVIsi): Amber, and will likely stay amber for this coming week.
- Medium Term Swing Timer: Positive (not overbought)
- SPY OVI: Blue
Last weekend I said that for the medium term outlook to continue being bullish there would need to be a positive follow-through in the week. We got that – albeit in dramatic circumstances.
Fast Filters Stock Selection:
Last week’s nugget setups did very well indeed. The vast majority of setups were bullish, and the vast majority of those move decisively upward. This is the power of our unique method and process. Remember what we’re looking for:
- OVI bias
- Recent cross of a Key Level
- A consolidation or sideways movement
- Recent shrinking retracements
The other Big Money Footprints of recent accelerating volume and price action are also important.
A sub-section of today’s watchlist includes another handful of nuggets:
AGL AMD BRK.B COMM COST FDX HZNP ICE LH LNTH OSTK PEAK TRP UPS VMW X
The new upgraded ‘ACE’ automated stock picker is now available for the London Stocks Summit. Remember to use discretion in accordance with the Big Money Footprints setups.
Two more important new filters have been deployed for the Summit.
The VIP Chart upgrade is in process and scheduled for Q1. Deploying your Trade Plan directly from the charts will be part of that!
Part of the broader charting upgrade will include an integrated news feed, trade plan directly from the charts, a TV channel, alerts, options selections directly from the charts – you’ll start seeing this very soon, with ongoing deployments into Q1.
An improved Market Timer indicator is also looking promising.
The Manuals are ready! The WiseTraders Summit on 3rd December is almost here and will be our best ever. It’s at the London Courtyard Marriott Heathrow, and we’ll also be broadcasting live and recording it. I will be unveiling more upgrades and findings, making all of our trading more precise and more efficient.
The Foundation Day gets everyone on the same page regardless of your current experience, and will be held on 26th November, by remote live stream.
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.