Hi there,
Three weeks ago, I mentioned how this market could twitch and spark a whipsaw.
Friday saw one of those extraordinarily wide ranged bars that can turn the momentum decisively.
Whatever happens from here it looks like it wants to be relatively untidy, which means you have to be extra vigilant and be doubly sure about what your game plan is.
As with the last couple of weeks, this week there continues to be a dearth of really high-quality Big Money Footprints setups.
Market Outlook
Watch the video at the foot of this email for more detail.
As a quick summary it does look like there is some upside potential, but it’s likely to be ragged.
Our market timing is a real strength that few others possess. Being good at market timing enables you to swim WITH the tide.
The Main Indices
The SPY, QQQ and IWM got close to their 50-dma’s before bouncing back strongly on Friday.
The DIA had already broken its 50-dma to the downside and snapped back to almost hit it again.
Market Timers
- Longer Term Market Timer (OVIs): Green.
- Medium Term Swing Timer: Bullish and not overbought.
- Index OVIs: All slightly red.
Fast Filters Stock Selection
Not much out there of real quality this week. If you think otherwise, then your analysis may not be tough enough!
Remember a chart needs to have the right qualities for you to consider trading it.
Pick your game and stick to the best quality setups that conform to it.
My game is OVI, near Key Levels, Shrinking Retracements, and a consolidation/sideways move. The other two Big Money Footprints are desirable but those four are essential to ME!
You can watch my full analysis in the video below.
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.
