Within hours of my write-up last week, the world changed!
Energy and defence stocks were old hat, tech and finance stocks were in!
While that’s quite normal in times of instability reaching a conclusion, the tricky part was anticipating that it would happen literally overnight.
All of which meant we didn’t get the small pullback that we were hoping for. Instead the markets kept drifting up.
But if you’d picked good setups near Key Levels like AMD and CAT (and many others), then you’d still be quids in.
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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.
Last week I mentioned that the markets were not overbought but I fancied a pullback to the 200-dma. What I missed was that the SPY was sitting plum on its 20-dma, and in response to the US bombing raid, the market rallied off that support.
With the SPY now extended above its 20-dma it makes a new entry very tricky if you’re not already in. Experience tells us to not chase, there will always be another day.
On that basis the SPY is tough to predict this week. Regardless, I wouldn’t chase it if you’re not already in.
However, as per our subject line, there are still plenty of good looking setups tight to their Key Levels and showing positive OVIs and bullish Shrinking Retracements.
And while the SPY, QQQ and DIA have all broken out already, the IWM is right on the cusp of doing so, and is likely to be bullish provided the others don’t collapse.
Watch the video for more detail.
Market Timers:
- Longer Term Market Timer (OVIsi):
Green. - Medium Term Swing Timer:
Bullish. - The Main Indices:
The OVI for all the main indices is pretty much blue as of Friday’s close.
Stock Selection:
This week I went through many hundreds of individual stocks via my static watchlists and my dynamic TradeFinders using Big Money Footprints filters.
It’s bullish out there and there are still plenty of good Big Money Footprint setups tight to their Key Levels. I also reviewed new filters with recent bullish momentum with bullish OVI, bullish Shrinking Retracements and near Key Levels.
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.
