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The S&P’s 200-dma did its job as we anticipated, acting as support as the markets have ground upwards.

This is not a market that’s been pulled by unstoppable forces. It’s generally made hard work of things, but our upwards bias has continued to be the correct call.

Before my Market Outlook for the week ahead, just to remind you that personalisation of our charts is on its way, so you’ll always see them according to your personal preferences. I’ve green-lit the designs so it’s just a question of scheduling the deployment.

Market Outlook:

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

Again, we’re remaining broadly bullish, but as I’ve consistently said lately, you have to set conservative profit targets, protect profits strictly, and be super selective with your trades.

That means I want to see several Big Money Footprints, giving a clear indication of buyer/seller dynamics.

OVI, Shrinking Retracements, Key Levels, and a sideways consolidation setup at the very least.

As I mentioned last week, I want lots of evidence of pent-up demand, and even with that, I’ll manage every trade very tightly.

Watch the video for more detail.

Market Timers:

• Longer Term Market Timer (OVIsi):
  Amber.
• Medium Term Swing Timer:
  Bullish.
• The Main Indices:
  Mildly blue for the SPY. Unambiguously blue for the DIA, IWM and QQQ.

Stock Selection:

Today I used my Four Big Money Footprints (bullish) Fast Filter and constrained it further by looking for setups around their 50 and 200-dma’s.

I also looked specifically for consolidations and Shrinking Retracements.

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: 00:42:12

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