In my daily trading plan yesterday over in the pro community, I shared CHWY as one of the top trades I was interested in taking and was able to grab the trend day on it and ride it for almost 4% profit on the day. I don't say this to brag, I say it to remind you that first you copy a trading style, then you become an artist. The stuff I teach took a long time for me to develop as my own edge where I can spot this stuff setting up and get in quickly when it's confirmed. With enough learning, reps, and journaling, you can develop your own edge as well and see the consistency and confidence you are looking for. In the meantime, if you need some guidance, I post my daily trading plan over the in the Pro Community each day to give people a place to get started with ideas as they make their own plans for each day. If you've worked your way through the course in here and still need some more help, the continued education on things like position sizing, coaching, and daily trading plans could potentially go a long way to help some of you break through the ceiling in your trading. If you need help or have questions on what you've learned so far in here, don't hesitate to reach out or post in here!

If you look back at my market overview post from 5/13, you'll see that I mentioned SPY as having a 5 Day SMA swing trade setup potentially setting up for the13th. As you can see from the chart I posted, the setup followed through. I wanted to draw your attention to this trade as a perfect example of what I teach in the first module of the "Setups" portion of the course. Not only did SPY move 1.7% to the top of the Keltner channel (a 5.03% move up if you used SPXL), tomorrow is day 7 of the swing trade. If you jumped in this trade and followed the rules you grabbed a minimum 5.03% and right now SPXL is sitting 5.73% above the entry price. We still have another day of this trade but price would have to fall $7 in a day for it to not have played out perfectly (and even if it did you should have taken some profit off the table at the Keltner Channel). For more info on how to trade this setup, check it out in the course and always feel free to let me know if you've got any questions along the way!

The Markets: - Weekly Charts on SPY and QQQ still look healthy in the zoomed out view. SPY definitely looks a little more indecisive than QQQ at the moment with a pretty "wicky" candle from last week. Could potentially signal a "short term" top or a pullback to the trend line. Will need confirm over the next few weeks. QQQ and SPY charts are telling similar long term stories but last week's candles are telling different stories so I'll be watching it closely. - Daily Charts on both SPY and QQQ are interesting. Both SPY and QQQ have made new highs recently but SPY has been making new highs on sideways consolidation for about 8 days now while QQQ has shown more strength. After a bearish engulfing candle on both charts on Thursday, we had an inside day to end the week. Which means it's hard to predict a direction. SPY weekly chart makes me anticipate a bit of a pullback next week in the first couple of days. I always trade with caution when SPY and QQQ are telling two different short term stories. - At the end of the day, the trend is your friend until the end so I remain bullish until the chart gives me a reason to change my position. Would need to see a trendline break. Anything before that is just a "higher low" pullback before putting in a new "higher high." Economic Data: The Fed continues their habit of talking too much again this week but other than that, there's nothing "major" on the calendar. Here are the details: - Tuesday - Fed Speaker Kaskhari at 9:55am and Cook/Daly at 1pm. - Wednesday - Fed Speaker Williams at 1:45pm - Thursday - Jobs and GDP data being released in the premarket could set some important premarket levels for the day to either scalp around or watch reactions to. Fed Speaker Williams at 12:05pm. - Friday - PCE data dropping in the premarket will provide important premarket levels as well. Earnings to Watch: - Tuesday - CAVA - Wednesday - CHWY, AEO - Thursday - FL, BBY, BBW Notable Sector Info: - XRT (retail sector) closed day 7 below the 5SMA signaling there could be some more downside to come over the next week or two. - XHB (home builders sector) also closed day 7 below the 5SMA signaling more potential downside to come for another 7 days or so.

Share the biggest lesson you learned this week below! My biggest lesson came through Gamestop. I had a great trade but I was reminded by how quickly that one reversed why it's always important to have a defined risk and reward on every trade. Have a great weekend, everyone!

Here is an example of the 3 period RSI that I mentioned in the workshop. On the daily chart you can see that COIN was in an uptrend back in March/April. These are actual trades I took that I'm using for an example. In the first pic you can see the 3 period RSI was oversold on March 14 and 19. The next two pictures are what happened on March 15 and 20. I teach this strategy in depth and two other trend day strategies in my pro community, which can be found here.