TG Watkins – The Market Pullback Has Reset Many Overheated Metrics, But Is There More Downside?

August 21, 2023

TG Watkins, Director of Stocks at Simpler Trading and Editor of the Profit Pilot website joins us to focus on the US markets and how he is trading at the moment. At the start of this month TG outlined why he thought a broad US market pullback could actually be good for the markets through a rotation of money into lagging sectors. We now follow up to get TG’s thoughts on the 3 week pullback.


TG shares some interesting breadth data which shows just how overheated markets were. He also outlines what he is looking for in the charts to signify if a turn back to the upside is coming. As TG says it’s more about short term trading strategies right now.




Click here to visit TG’s Profit Pilot website to keep up to date on what he’s trading.

    Aug 21, 2023 21:11 PM
    Aug 21, 2023 21:24 PM

    Silver looks great. It turned up at its 1 year uptrend and 250 day MA (250 trading days per year) and was able to take back its 200 day MA today. A new low would not be good at all.

    Aug 21, 2023 21:48 PM

    agreed….caveat…we are NOT in a world yet…where gold miners will be up in price as the general equities sell off…when that does happen……free at last free at last…glta

    Aug 21, 2023 21:01 PM

    Can’t keep up with all the news as I am inundated with news about the Johannesburg Conference ………..Not

    Aug 21, 2023 21:10 PM

    Bitcoin is among the most speculative assets so it is unlikely to buck a bear market in stocks.

    Aug 22, 2023 22:27 AM
    Aug 22, 2023 22:07 AM

    weekly GDX does look better to buy down around 25.50…..

    Aug 22, 2023 22:21 AM

    same story /GC december weely…clearly looks more complete w more correcting down to1835 area…..

    Aug 23, 2023 23:19 AM

    Algos have failed to keep track of the phony metals price setting markets as my account is showing the same up/down pattern and daily loss of 1-2% at open and close as every other day. I think if you are going to run a phony intervention price market you should at least follow it. How can you explain the same individual account algo activity if you fail to follow your false data. Very frustrating that they aren’t even good criminals. Metal prices all doing well in the phony paper markets.