Image Source: Pexels

This week’s Market Review will be shorter than normal due to more travelling, and I’m grateful for Jay’s “Time Poor” filters which have dramatically shortened the time I took to produce this Review.

As I mentioned last week, a retest of the 200-dma for the S&P would be ideal.

That’s now in the process of happening.

So here we are at an important level for the the S&P. The QQQ is also retracing but still above its 200-dma, while the DIA and IWM are hovering between their 200- and 50-dma’s.

Market Outlook:

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

Over many weeks I’ve publicly leaned towards short-term upside and medium term uncertainty.

Last week I said a pullback to test the S&P’s 200-dma would be ideal, and here we are!

… now the S&P, QQQ and a host of stocks have shot up through their respective 200-dma’s, it would be a welcome scenario if they could have a little test before resuming their upsides.

If they do consolidate around these levels and poke up again, then the medium term will be bullish …

This still stands, so the next few days could be very instructive for the coming weeks.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Half green.
• Medium Term Swing Timer:
  Bullish.
• The Main Indices:
  The OVIs for the SPY, DIA and IWM are struggling a bit, while the QQQ’s OVI has popped up in the last day.

Stock Selection:

Due to time constraints, today I have focused on Jay’s “Time Poor” Fast Filters, which is exactly what they’re built for. His parameters are for moe constrained, meaning fewer selections, but more tougher criteria for Big Money Footprints being present. If you have VIP status, do give them a try.

We’re still in that zone where “news” is always just one press conference away, but the fact is that we’re around Key Levels, and that’s a place of very key interest for us.

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.

Video Length: 00:27:14

More By This Author:

The Timid Bull Remains
Short Term Upside With A Heavy Dose Of Caution
Time To Be The Lion