The Nasdaq had a storming week, leading the S&P somewhat, but barely having any impact on the Dow and the Russell 2000.
The Markets:
The large tech stocks have led the way, but this is not a broad market rally.
Market Outlook
We did have a more interesting week than I was expecting but, as I mentioned last week, I think there will be more fun to come in a while… and it could well be in the other direction.
Watch the video at the foot of this email for more detail.
The Main Indices
The S&P has edged upwards from its recent consolidation above its key levels.
The QQQ looked like it was close to getting overbought last week, but it’s kept going and looks even closer to being overbought now.
The IWM looks has crept upwards above its 50-dma but remains in a 3-month sideways channel.
Market Timers
- Longer Term Market Timer (OVIsi): Still half-green and likely to stay half-green this week.
- Medium Term Swing Timer: Slightly bullish.
- SPY OVI: Again, not playing ball along with the DIA and IWM. The QQQ’s OVI has been broadly positive before sinking on Friday, but it’s too early to tell if this is forewarning the end of the QQQ’s bullish surge.
Fast Filters Stock Selection
I’m still covering more bullish stocks than bearish, and the main Big Money Footprints I’m looking for are the OVI, Key Levels, Shrinking Retracements and consolidations.
Here is a smaller list of stocks that look interesting for our consideration. Remember to reference the video so you know what my sentiment is on each one:
ACN APO CHK CYBR DAR EBAY FND GH GOOG ILF ING JCI LAC LTHM MA NFLX NTAP OHI PAGS RUM S SBUX STZ SYK TOST TSVT VMW WMS YELP ZS
Events
Our events will have a more practical approach moving forward. Our technology advances allow this to happen, so you can “learn, practice and apply” all at the same time.
The Stocks Summit in London on 2nd December will be accompanied by huge new releases. We’ll also do a Foundation Day online the Saturday before the big event.
Video analysis
Remember, you can play the video at 1.25x or 1.5x speed if you want to save time! I have placed all the stocks covered in today’s review in your “Latest Preview” watch list.
