Last week I said the markets were in a “testing phase” – I think a better description would have been a “holding pattern” as in air traffic control.
After testing its 200-dma the S&P bounced sharply on Tuesday and with all the ever-changing news, none of the indices quite got going from there.
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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.
One of the characteristics I like to see is clustering, where stocks and/or indices are all clearly doing the same thing.
Right now we’re in post earnings – our most optimal time – and the S&P is resting just above its 200-dma.
And yet, there’s a slightly uneasy feeling because of the rather news-driven nature of recent days.
It’s a bit like the timid bull that we talked about for several weeks.
So, we remain broadly bullish, but we have to set conservative profit targets, protect those targets strictly, and be super selective with any trades.
That means I want to see a host of Big Money Footprints lining up so I can see a clear sign of behavior. OVI, Shrinking Retracements, Key Levels, and a sideways consolidation setup at the very least.
I want as much evidence of pent-up demand as I can get, especially in these conditions. And even then I’ll manage it very tightly.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Half green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
Mildly blue for the SPY and DIA. Mildly red for the IWM, and variable for the QQQ.
Stock Selection:
I want compelling evidence of buyers on the way up or sellers on the way down. The market isn’t strong enough for me to consider mediocre setups.
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.
