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The Markets …
On a roll with another good call last week as we anticipated a quick pullback and then resumption of uptrend. You never quite know the precise timescale and extent in advance, but the point is that the market did pull back a bit before then deciding it wanted to resume its uptrend.
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:
I expect some retracement work but only as a temporary situation, perhaps before further upside before or when the upcoming earnings cycle begins.
As we start the earnings cycle next week I expect a broadly positive showing from the S&P, though I would have preferred if the S&P and Dow were starting from slightly less extended 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:
All the main four indices rebounded up through their 50-dma’s and finished at or near their week highs.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish. - Index OVIs:
SPY, DIA and IWM are broadly neutral while the QQQ is red (though I believe not for long).
Fast Filters Stock Selection:
This week I went through my routine of reviewing my static watchlists and then my Fast Filters. Today these included OVI Big Money Footprint combinations, consolidations, Shrinking Retracements and overbought scenarios.
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:
Upgrades coming to the TradeFinders, Journals and more.
New filters are coming soon for VIPs, together with a marked improvement to the TradeFinder format.
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. We’ll also be upgrading the Fast Filters still further.
And of course there’s 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.
