Editor’s Note: You’re getting a free “Trade of the Day” benefit upgrade today…

After a long search – years in the making – the Trade of the Day team finally found another strong trading pro that will deliver fresh ideas and insights in our daily newsletter.

I am proud to welcome JC Parets, aka “The Chart Whisperer”, to our contributor team.

JC is a former hedge fund manager and one of the most respected voices in technical analysis.

This week, JC will join Bryan Bottarelli for an MTA LIVE session to reveal why the crowd is wrong about today’s markets —and how you can find bull markets hiding in plain sight.You’ll discover hidden profitable trends others are missing, from European markets to Bitcoin’s potential path to $150K. trends others miss.

Going forward, JC will be a special weekly contributor in Trade of the Day.

In today’s article, he covers “The #1 thing you shouldn’t be doing right now.”

I think you will love JC’s contrarian trading style and easy to digest articles.

And if you are looking for more insights…

This week, JC will join Bryan Bottarelli for an MTA LIVE session to reveal why the crowd is wrong about today’s markets — and how you can find bull markets hiding in plain sight.You’ll discover hidden profitable trends others are missing, from European markets to Bitcoin’s potential path to $150K.

📅 When: Wednesday, April 30th @ 2 PM EST

🎯 What: The Earth is Full of Bull Markets: Why Everybody is Wrong About Today’s Market Opportunities

Don’t cook your profits in a microwave – join us live Wednesday!

Save to Your Calendar Here

– Ryan Fitzwater, Publisher

This is all you need to know about the stock market right now: Don’t fight Papa Dow.

Former resistance is turning into support – just like they draw it up.

This is what they teach you in Technical Analysis Kindergarten.

Before you could even read, they’re lecturing you about resistance and support.

We call that polarity. We’ve written about it a lot recently.

You’ll get used to me referencing former resistance turning into support and polarity… again and again and again.

It’s not because we’re working some kind of magic. It’s simply how supply and demand works.

And hearing it again and again and again is how I learned it.

You could fight Papa Dow.

You could also cook a steak in a microwave.

The Godfather of Technical Analysis

“Don’t fight Papa Dow” comes from one of my mentors, Mr. Ralph Acampora.

This chart explains why I don’t fight Papa Dow anymore:

What’s going on here is, the Dow Jones Industrial Average is finding support at former resistance – the principle of polarity is in play.

These are the prior-cycle highs. What happened was, in late 2021, early 2022 the last bull market ended.

And then, of course, all those ARK stocks got destroyed. Chinese internet stocks got destroyed. Everything and anything solar got destroyed.

And, of course, eventually we got out of it.

Semiconductors led the way up. Things got better.

The Dow was making new all-time highs, now it’s come off from those levels. It’s causing some problems in the market.

But – from a bigger-picture perspective – Papa Dow is still above the prior-cycle highs.

You know what we call that around here?

We call that “higher lows and higher highs.” Another word for those is “uptrends.”

And I’ve done the math: In bull markets, you tend to see a lot of uptrends.

My friend Ralph is a legend in the field of technical analysis.

And he used to always tell me, “JC, don’t fight Papa Dow.”

Here’s Ralph and me way back in 2013:

Ralph would tell me – over and over and over again – “Don’t fight Papa Dow, JC.”

Because you know what I was doing at the time.

I was constantly fighting Papa Dow. I was. I really, truly was. I was in my 20s. I thought I knew everything, right?

“Look at me,” I thought. “I know everything.”

I literally thought I knew everything in my late 20s. And I was like, “Oh, the real institutions follow the S&P 500. That’s the real index for the pros.”

And I’m a pro. Because I’m wearing a suit in Midtown Manhattan, right?

And they put me on TV sometimes, right?

So I have to be important.

What an idiot I was.

I’m telling you – from the bottom of my heart – what a fool I was in my late 20s…

Thinking how cool I was, the S&P 500 and institutions and “that’s their benchmark, bro.”

Turns out I didn’t know anything.

Yes, Ralph was right all along.

Don’t fight Papa Dow.

That’s it.

Don’t fight Papa Dow.

YOUR ACTION PLAN

Stock prices don’t move because of the fundamentals of the company.

It’s about whether there’s more demand for that stock or supply at those prices.

That’s what it’s all about. That’s what we’re analyzing here, guys: Supply and demand.

The bottom line – I’ve said it before, I’ll say it again – if we’re above those prior-cycle highs, bull market on.

I ain’t fighting Papa Dow. I won’t do it.

You could fight Papa Dow if you want to. I don’t recommend it.

You could also heat a steak in a microwave, for example. You could.

I don’t recommend it. Cast iron or perhaps a really hot grill. But don’t put it in the microwave.

Oh, the S&P 500, the institutional benchmark all the cool kids follow?

Same thing.

Former resistance is turning into support at the prior-cycle highs. This suggests that buying stocks is the best thing to do. That’s what we’ve been doing over the past couple of weeks. That’s what we did this week.

We have our plan. And we’re sticking to it.

If you want to dive deeper into these strategies, I’ll be breaking it all down live at Monument Traders Live on Wednesday, April 30th at 2 PM EST.

I’ll be sharing why “Don’t fight Papa Dow” is my #1 mantra, how to spot bullish opportunities others miss, and even the technical case for Bitcoin reaching $150,000.

Join us FOR FREE here: Add the event to your calendar now.

TESTIMONIAL TUESDAY

“Out of HIMS at 1010% (overnight). Thanks Nate!” – MattK

“STC 2 of 6 on a trailing stop loss @ $2.00 yesterday on WPM and waiting to sell 2 more at $2.15 today THANKS KARIM.” – WilliamW

“In at 1.06 and out at 2.61 on HAL (overnight). Nice trade BB.” – JRDale48