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First, a quick note on the data challenges from the past week.
Options symbology follows a particular protocol from the OCC, which we adhere to.
For some unfathomable reason, some distributors mess around with the format, which meant our data suppliers have tried to accommodate them … which has had an inevitable knock-on effect.
Of course the obvious solution is to stick with the official protocol rather than try to please distributors who mess with it.
Anyway, in the meantime, we’re monitoring it manually which means it’ll be fine but our processing will be a few hours later than normal for the next few days.
That should be largely invisible because it typically happens when everyone’s fast asleep, but in the meantime, thanks so much for your patience!
Remember what I said last week …
In time things will settle around the areas of higher probability technical levels, giving us the prime opportunities that we like best.
So, be patient. We’ve anticipated unpredictability since mid-June and it has certainly been rocky since then.
This is where you prove to yourself that you’re the one in control, and you’re not subject to knee-jerk reactions.
This is what the Big Money Footprints strategy is all about. Biding our time for when we can shoot the fish in a barrel.
The markets …
The largest number of consolidations in the Top 1000 since I can ever remember … but don’t be fooled!
The vast majority of them are uncharacteristically untidy right now!
But there is something else interesting about them … Nearly all of them are accompanied by a volume consolidation and over half of them have bearish flagpoles.
What does that mean?
See below for Market Outlook.
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://members.wisetraders.com
- Click on Platform (top right)
- Click on TV within the Platform (top right)
- Choose “On Demand”
- Play
Market Outlook:
Watch the video for more detail.
Last week I said a temporary snapback or pause was likely.
That only happened after Monday’s downdraft! So, I was out by a day, but we now see a record number of consolidations, mostly bearish.
I also said to Be patient … this market volatility is not over yet.
I would repeat that this week too. There’s a good chance of further unrest and downside potential. Avoid the messy stuff. If you want to trade bearish, go with the neat and tidy setups just under Key Levels.
Our market timing continues to be outstanding. Being good at market timing enables you to swim WITH the tide at the right time.
The Main Indices:
A good chance of waterfall action as these consolidations are accompanied by shrinking volumes too.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bearish. - Index OVIs:
Broadly red.
Fast Filters Stock Selection:
Again, this is a time to observe.
I’ve whizzed through all my favourite setups and the quality on offer is scarce to say the least. We’re all about quality and control.
Pick your playbook and stick to the best quality setups that conform to it.
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!
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. **
Software Upgrades:
Soon we’ll deploy the updated ‘How To’ video guides, and we’ve already deployed a handy ‘How To’ clickthrough guide to help you navigate the platform.
Next up is the journaling from the charts which will pave the way for:
- A link to a broker platform from the enhanced Journal app directly from the charts to make life much easier for you.
Imagine knowing if an options trade is in line with or violates your stated risk parameters!
We’ve already built the calculator engine, it just needs to be deployed. - More indicators to choose from inside our OVI charts …
Not so much for me personally, but I know many members do like to play!
Also, the full mobile phone (portrait) optimization is in the plan for the summer, and more dynamic notifications from inside the application will follow that. Lots to do!
Many more game-changing upgrades will be made in time for the London Stocks Summit on December 7th.
Events:
Our Stocks Summit in London on 7th December will be the most practical ever, with half of the event dedicated to practical exercises and with the most bonuses ever.
Like we just did in Orlando, 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. Easily by the event, all your TradeFinder activities will be directly from the charts, saving you huge amounts of time.
Watch today’s market review inside the members area here! To the left is the Watchlist area. To the right is the TV area.
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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.
