Ciovacco Historical Perspective Charts

Once again, the above video link provides an overview referencing current stock market conditions relative to similar past readings.   This would be most relevant for position investors (such as retirement accounts) to monitor on a weekly basis.  This is NOT a forecast just data points at this time.  Continue to keep an open mind and respect the message of the market.

Markets are fluid and subject to change as we all know - key is to establish a methodology that fits with your beliefs.   You can also incorporate a hybrid approach with your portfolio by position investing certain funds for longer term (accepting volatility until EVIDENCE changes) and dedicating other funds to short term trading.  Those are decisions for each individual.  If you have yet to formalize an investing/trading approach please take some time to formalize a template - you can always adjust but it's best to have something in place.  From there, you should formulate a PLAN that entails your objectives.  Once a plan is in place, then you can refine down to which specific securities you want to invest and/or trade.  This is a TOP DOWN approach that should be enacted PRIOR to looking for trades.   Just like a Football team(or any sports team) - the General manager has a vision/approach on how he/she wants to build a team. Then he/she hires a coach to devise a scheme around those players to maximize their talents.  Next,  the coach puts into place a weekly game plan (making necessary adjustments) before finally selecting specific plays.  

How does BPT come into this picture?  Think of BPT like a consultant/assistant coach  who helps to make your job easier along the way.   We provide daily analysis of several markets which helps to provide some guidance as to how we see things.  We also spend a considerable amount of time providing tips and educational examples to help execute you plan.  Think of the DVT approach for swing trades and the nightly discussion of charts involving patterns and candlesticks, etc.    We also scan for and offer trade suggestions (ideas) that we believe are valid setups and we take time to review the triggered setups in the following days.  Partake in only the ideas that fit into your plan and simply ignore ones that don't.  Finally, we spend time posting relevant comments and numerous charts every day in the trading community relating to what transpiring during that trading session and updating trade ideas.