In Monday’s watchlist video, I mentioned that the SPY is the only chart that matters this week – and I’m still holding to that.

I do think it’s important to stay cautious based on the current trend in the index…

However, there’s still plenty to be optimistic about in terms of rally potential.

I go over all of it in today’s video… plus I have a fresh trade setup for you.

YOUR ACTION PLAN

Marathon Petroleum (NYSE: MPC) is emerging as a leader in the energy sector. It’s holding up really well in this environment, and it has a squeeze on many different charts. Here’s the play: I’m looking to buy the MPC October 20 $150 calls and target a move to new highs of $160 or above. My stop will be a daily close below the $147 area.

(Click to enlarge)

If you’d like to follow along as I make trades like this in real time, I invite you to join me in Daily Profits Live. I’m currently on a mission to turn $37,000 into $1 million in verified trading profits.

Click here to come along for the ride.

P.S. I’d love to answer your questions on any chart setups you’re interested in knowing more about. If you have a ticker you want me to cover with my TPS system, email me at feedback@monumenttradersalliance.com – I’ll let you know my thoughts on a few submissions in a future video.

TESTIMONIAL TUESDAY

“Calls in [FDX] at $5.45 out at $12.35, a 126% [overnight] winna!! Thanks BB!! Still holding the puts.”
– RocknRob

“Thanks Karim – sold 200 shares [of SKIN] for a 10% gain [in 29 trading days].”
– wbs