Last week we saw a very powerful 5% reversal.

It was the best week the markets have had all year.

And in today’s video, I explain why I might be switching into “buy the dip” mode soon.

You’ll see exactly how a “head and shoulders” pattern could prove fruitful for traders.

Click the image below to get all the details.

YOUR ACTION PLAN

After a major 5% rally last week, the SPY is shifting… which means the Santa Claus rally could be back on. But before I load up on bullish trades into the end of the year, I’d like to buy the SPY November 17 $435 puts while the SPY is trading in the $435-$436 area, and I’ll be looking for a pullback and the formation of a “right shoulder.”

From there, we could see a rally upward, as represented by the blue line in the chart below.

(Click to enlarge)

If you want to see exactly how I make trades like this one in real time, I invite you to check out Daily Profits Live. Last week I won on 10 of 13 trades for a 77% win rate, including a 41.98% return on TSLA in less than one trading day.

Go here to learn more about my mission to turn a $37,000 account into $1 million in verified trading profits.

P.S. I love answering your questions. It’s the best and most rewarding part of my gig. If you have a ticker or chart you want me to break down – or just a general trading question – please email me at feedback@monumenttradersalliance.com. I’ll let you know my thoughts on a few submissions in a future video.

TESTIMONIAL TUESDAY

“Got my target in our MSFT trade from yesterday. $354.40 was the target but with the Nov 10 $347.50 calls, I priced $8.00 In at $4.50 out at $8.00 a cool 77.77% gain [in one trading day]. Thanks Nate Bear.”
– HeyJT

“STO [FLR] Jan19 ’24 $30 P at $0.97, BTC at $0.62 for a 36% gain [in 45 trading days]. Thanks, Karim.”
– GreggD

“BTO 1 EL Nov17 $125 P at $5.40, STC at $18.00 for a gain of 233% or $1,259 [in one trading day]. Thanks, BB, I needed that.”
– Tdon1229