With more phenomenal upgrades coming your way in the very near-future, today I’m showing you a new training feature that will help embed great technique into your muscle memory.
Because in a market like this, great technique can be the difference between success and failure.
Many stocks – even the most liquid ones – are gapping up and down from day to day, Tesla (TSLA) being one easy example from the last two days alone.
And while my trading strategy seeks to focus on ‘well-behaved’ stocks, there is another piece of my strategy that is all about technique.
I call it my E.D.G.E. Trade Plan, and the specific component of that I’m referring to is my ‘P1’ or ‘first profit target’.
For those who have adopted it, it has changed their trading for good.
And in a market like this, it’s a lifesaver.
Essentially it boils down to not being greedy. Protect your profits early.
And the method is super simple.
Market Outlook:
The SPY, QQQ and DIA are proving to be remarkably resilient.
As and when there is a sign of weakness, I expect that to be from the IWM, the Russell 2000 midcaps.
Why? Because these are not the elites. And when trouble is ahead, these stocks are the most vulnerable.
Last week I felt the IWM was vulnerable and so it proved with a P1 downmove for grabs (watch the video).
Staging a partial recovery from Wednesday to Friday, with declining volume, is just want I wanted to see. Because now we have an inflection point right under a Key Level.
IWM’s OVI has been almost exclusively negative for two months, and yet it’s flatlined rather than dropped.
Any ‘bad news’ from here will likely see it slide.
But we’re going to have to be patient. Anticipating does not mean acting prematurely.
This brings us back to technique. My E.D.G.E. Trade Plan provides repeatable technique.
Not just for profit protection (P1) but also for entry and profit maximisation.
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:
Inconsistent between all four.
Stock Selection:
This was another week where I must have scoured around 500 stocks … Luckily that’s a breeze with our platform.
The interesting thing this week was the paucity of really Triple A setups. But there are a few decent ones in there … where you can control your risk.
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