After a big rally in November, the indexes are overbought.

Will we see a pullback soon? Maybe. Maybe not.

But until we do, there’s no reason to short the market.

However, there’s a chart with a nice bull pattern that I’m looking to get positioned in today.

Click the image below to get the trade.

YOUR ACTION PLAN

As you’ll see in the chart below, Tesla (Nasdaq: TSLA) has a bull pennant on the 130-minute chart, and I’m looking for the stock to move higher and break out of this pattern. Right now, I’m looking to buy the December 8 $240 calls when TSLA is trading at around $232 to $235. My price target will be around $240, and I’ll stop on a daily close under $230.

(Click to enlarge)

To get more trades like this one, follow along with me in Daily Profits Live. Last week I closed a 32% winner on Coinbase (COIN) in less than one trading day, and I’m on a mission to turn a $37,000 account into $1 million in verified trading profits.

Click here to learn the secrets of how I went from a construction worker to a full-time day trader.

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

“In [WME] at $2.53 out $3.10, 22% [in less than one trading day]. Feels great thanks BB.”
– Jack M

“SPX in at $1.37 and out at $5.00 [264% gain in less than one trading day] Thanks NATE!!!!”
– JoeS

“I closed the 1 Shares/Contracts I opened at $102.34 for $61.66. +40% in 3 weeks, thanks Karim! Trade was closed 11-09-23 with CARR. $51.18/share.”
– Brad S-43