A huge thumbs-up for our simplified VIP package that I announced last week! And also, huge feedback for the Shrinking Retracements filters now in the VIP TradeFinder.
Just to remind, for the first time ever we are bundling OVI Markets Daily (Market Timing) into our VIP Stocks Summit membership.
That’s a huge upgrade in addition to the other new functions and filters (including Shrinking Retracements) within that package.
Now for the markets …
So, last week I said things were ambiguous as the main indices had climbed above their 50-dmas but there was no broad consensus for a bullish follow-through.
And now those indices are back below their 50-dmas their isn’t unanimous consensus for a universal bearish follow-through.
What that means is that it’s a slightly tougher dollar market, but if you focus on clear Big Money Footprints occurring near Key Levels (which are a Big Money Footprint in their own right), you’ll fair much better than others.
It also goes without saying, be fussy! It’s always better to be patient for optimal setups occurring in optimal conditions.
In terms of sectors, divergences are quite normal. Oil & Gas continues to perform well in accordance with expectations while real estate is struggling.
Market Outlook:
The continued ambiguity is mainly in relation to our index indicators looking mildly bullish, while price action looks more bearish. They’ll get back in sync very soon.
I was thinking after Labor Day things might become clearer, and next week will be a full 5-days, so clarity should return!
In the meantime, we’ll continue to focus on individual setups with a safety first outlook.
Watch the video for more detail.
The Main Indices:
All the indices have dipped back below their 50-dmas, and their OVIs are mainly negative. The market timers are not fully in sync right now …
Market Timers:
- Longer Term Market Timer (OVIsi):
Full green – just. Plenty of scope for changes in the coming weeks. - Medium Term Swing Timer:
Bullish. - Index OVIs:
The index OVIs remain neutral to bearish.
Fast Filters Stock Selection:
Again, somewhat light on nuggets this weeks, so focus on high quality setups near Key Levels.
Of all the Big Money Footprints, the most important are OVI, Shrinking Retracements, and Key Levels. The others are also very helpful, but those three are the ones I look for first.
Here is a smaller list of stocks that look interesting for our consideration. Very soon I will only post this in our new Expert Watchlists area, so you’ll have to log in to see it. Market Timing will also go inside a login soon. Remember to reference the video so you know what my sentiment is on each stock listed:
AMPL AMZN CG CHD COF CPE DVN ELF FIVN G GDDY HCP HTGC JNPR JXN KBH KMX LULU MDT OZK RDFN TWLO XOM
Software Upgrades:
As per last week, expect some further cosmetics to be released soon, and it’s now full speed ahead for the TV channel.
Then the Journal app calculator. Then the charts upgrade, the broker API by popular demand, and also full mobile phone optimization. Lots to do!
As I mentioned last week, I’m also going to tweak the pullbacks algos to allow more to be in those lists.
Many more game-changing upgrades will be made in time for the London Stocks Summit on December 2nd.
Stay in touch to discover more as we unveil best-of-breed applications!
Events:
Our Stocks Summit in London on 2nd December will be the most practical ever, and with the most bonuses ever.
Each session will have a practical exercise for you to complete, so you can build your confidence in finding the exact type of setup you want to focus on. These practicals will include Market Timing and specific stock strategies, and will only take 15-minutes for you to complete. This will give you the confidence to use our tools to their maximum potential while saving you huge amounts of time.
We’ll have the Foundation Day online the Saturday before the big event so we can focus on more of these practicals during the event.
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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.
