Cash Is King During Moribund Earnings

Market Outlook:

Earnings is still quiet and many stocks are wobbling.

Our overall ‘stay-out’ to bearish stance has been correct, and we’ll continue with that, though there will be bullish setups too. But you really have to be fussy.

Tech continues to look vulnerable. Oil & Gas continues to look promising while being a wildcard due to Geopolitical whims. Financials are mixed and there’s still not a lot to really grab a hold of right now from the sector point of view.

As I said last week, that tells you the market is uncertain. That tells you to tread with care. Being flat is a decent position.

And again … with all that said, my recent highlighted stocks – both bullish and bearish – were again pretty solid.

Our market commentary continues to be outstanding. Mastering market timing enables you to swim WITH the tide at the right time.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Green.

• Medium Term Swing Timer:
  Bearish.

• The Main Indices OVIs:
  Pretty much all red.

Stock Selection:

Last week I said:
‘Poor quality consolidations and other Big Money Footprints setups this week. With this being very early in the earnings reporting cycle, it’s a good time to observe and hold fire.‘

I’ll say the same again this week!