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Market Outlook:

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

Two weeks ago I said it would be sensible to protect your bearish profits and that whipsaws were highly likely.

Three days later we saw one of the biggest reversal whipsaws in history!

Medium term still looks bearish as the market struggles to digest so much news and uncertainty. That said there are some exceptionally robust stocks which I’ll cover in today’s review.

We remain in a highly news-driven market, so it’s a prime time to be the lion, not the headless chicken, especially now we’re in earnings season.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Red.
• Medium Term Swing Timer:
  Bearish.
• The Main Indices:
  SPY’s OVI has perked up while the other indices OVIs are still predominantly red.

Stock Selection:

This week I’ve gone through hundreds of stocks and there’s not much out there to our particular taste. When you get to a point that you can recognise this and be comfortable with it, then you’ve arrived as a trader … or a Wise Trader!

Remember, our game is to play when the Big Money Footprints align neatly. By and large, they’re not right now – with a couple of exceptions, but the broad markets remain flaky right now.

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: 00:40:33

More By This Author:

Huge Bearish Wins … Now What?
Another Market Timing Win – And We’re Bearish
No Quick Fix For This Market