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Two weeks ago I said there was no easy fix for this market … and last week I explicitly reiterated our bearish stance.

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 said I was “reiterating a bearish stance“.

This week I’m suggesting to protect your profitable bearish positions, and if you’re in cash, stay in cash unless we see a compelling reversal bar.

In favor of a potential upward reversal we are technically very oversold right now, but we also have to acknowledge this is a rather crazy news-driven market prone to severe whipsaws.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Amber.
• Medium Term Swing Timer:
  Bearish and oversold.
• The Main Indices:
  All four main index ETFs have negative OVIs.

Stock Selection:

Pretty much everything went spectacularly right for us last week, and with the overstretched state of the market, this weekend I only have a couple of potentially interesting ones.

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: 00:35:48

More By This Author:

Another Market Timing Win – And We’re Bearish
No Quick Fix For This Market
One Week Is Currently Like A Decade In These Markets