With the Federal Reserve’s upcoming rate cut meeting plus a thin earnings calendar, I’m expecting markets to be in reaction mode this week.

For the Fed’s decision, I’ll be eyeing a trade on the SPY in Catalyst Cash-Outs this week. The trade goes live today at 2 p.m. EST.

Also, I have another ticker on my watchlist that I want you to know about.

I’m currently tracking Lululemon (LULU), the American-Canadian multinational premium athletic apparel retailer.

LULU sells athletic apparel including sporting tops, sports jackets, hoodies, joggers, running shoes and underwear.

If you’ve followed me in the past – you know I’m a big believer in following what the wives and girlfriends are buying.

And a few years back, you might remember Lululemon’s women’s apparel was a big craze.

In fact, LULU saw impressive growth in 2023, increasing revenue 19% to $9.6 billion.

However, the company has fallen this year.

As you’ll see in the chart below, shares are down 50% in 2024.

However, I believe LULU’s shares could be nearing the bottom – for one key reason.

CEO Calvin McDonald just bought 4,000 shares of LULU for $1 million, paying an average price per share around $260. This was the first open market stock purchase he’s made since being named CEO in 2018.

Insiders like McDonald buy a stock for one reason – they believe it’s going to go up.

And now McDonald owns 89,920 Lululemon shares, according to a form McDonald filed with the Securities and Exchange Commission.

This could be a signal that we’re close to the bottom for LULU, making this company a dip buy candidate.

Action Plan: With this latest CEO insider buy, I’m tracking LULU for a potential dip play opportunity this week in The War Room. Last week I closed 5 of 6 trades for winners (83% win rate) including a 41.92% winner on ORCL.

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