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An eventful four day week is putting it mildly!

It started on Tuesday with the S&P and Nasdaq gapping down, followed gap ups on Wednesday, Thursday, and Friday, only for the markets to wobble on the Jobs Report.

So, what do we make of all that?

My assessment is that more volatility is on its way.

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 took a neutral outlook on the indices, suggesting they could use a pullback.
They did exactly that on Tuesday before recovering midweek and finally stalling on Friday.

One of the keys to mastering market timing is to study not just the indices, but also individual stocks … hundreds of them.
That’s what I do every week, and with our particular tools we’re able to call the markets accurately with impressive success.

As we stand today, with so many stocks not looking optimally neat and tidy, my outlook this week is for more volatility.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Green.
• Medium Term Swing Timer:
  Bullish.
• The Main Indices:
  All four indices have some sort of blue OVI going on … the most compelling being the IWM’s OVI but the IWM’s context that of being rather overbought and potentially ripe for a reversal.

Stock Selection:

** Remember, managing risk in your trade management is as important as trading with higher probabilities. This is very much part of the WiseTraders method, and is our third Master Key. Look in our Gift area inside the Platform to watch “How to Cap Your Losses & Protect Your Profits“. **

Even after going through my typical routines which typically yield a good number of nuggets, this week was challenging in terms of finding the high quality setups near my preferred Key Levels that I like. Again, this points to increasing volatility on the horizon.

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! Increasingly, I’m researching the resulting impact of very short term momentum, and with my new VIP filters I’m also now looking more at overbought and oversold issues.

Video Length: 00:41:35

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