An up week as anticipated but it’s tricky out there as the SPY, DIA and QQQ are already at extended levels. This means that while the market remains bullish, optimal setups aren’t as prevalent as we’d like.
As with the last two weeks’ theme, let’s still keep away from technically extended issues, and focus on those that are near our favored Key Levels. As much as anything that also helps you with risk control.
Be patient … we’re only just into earnings, and Post Earnings is our optimal time of the calendar.
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We’re getting very close to releasing the personalisation of our charts, so you’ll soon be able see them according to your personal preferences. Keep an eye out for this in our emails and other messaging.
Market Outlook:
Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.
Last week I said that in the absence of an unanticipated news event, and despite the overall overbought look of the main indices, the markets are looking optimistic for earnings.
This still holds, but we must always be aware about optimal setups in terms of reward/risk as well as probabilities.
So, right now further upside is more likely, but reward/risk is not as optimal due to the slight overextended nature of the main indices and many of the constituents of those indices.
Stick to the form of focusing on stocks displaying our Big Money Footprints, but which are not overextended.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
Tech has mainly led the way with the QQQ and SPY inching upwards with blue OVIs. The DIA and IWM’s OVIs are more neutral right now.
Stock Selection:
Remember, managing risk in your trade management is as important as trading with higher probabilities. This is very much part of the WiseTraders method, and is our third Master Key. Look in our Gift area inside the Platform to watch “How to Cap Your Losses & Protect Your Profits“.
This week I focused again on Big Money setups but I’m really focusing on being patient for post-earnings setups in the coming weeks.
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! Increasingly, I’m researching the resulting impact of very short term momentum, and 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.
