On a roll with another good call last week as we anticipated a quick pullback and then resumption of uptrend. You never quite know the precise timescale and extent in advance, but the point is that the market did pull back a bit before then deciding it wanted to resume its uptrend.See below for Market Outlook.
Market Outlook:
Watch the video for more detail.Last week I said:
I expect some retracement work but only as a temporary situation, perhaps before further upside before or when the upcoming earnings cycle begins.As we start the earnings cycle next week I expect a broadly positive showing from the S&P, though I would have preferred if the S&P and Dow were starting from slightly less extended levels.Our market timing continues to be outstanding. Being good at market timing enables you to swim WITH the tide at the right time.
The Main Indices:
All the main four indices rebounded up through their 50-dma’s and finished at or near their week highs.
Stock Selection:This week I went through my routine of reviewing my static watchlists and then my Fast Filters. Today these included OVI Big Money Footprint combinations, consolidations, Shrinking Retracements and overbought scenarios.Pick your playbook and stick to the best quality setups that conform to it.Video Length: 00:55:33More By This Author:
Uptrend Resumption Likely For Earnings
