As we dive into another week of trading, let's dive into the nitty gritty that you need to know to be prepared. Here are the important events this week: - Tuesday, Feb 18: President Trump speaks at 9:00 PM. Be prepared for potential market reactions. - Wednesday, Feb 19: FOMC Meeting Minutes release at 2:00 PM. This could provide valuable insights into the Federal Reserve's policy direction. - Thursday, Feb 20: Unemployment Claims are expected at 214K, slightly higher than the previous 213K, at 8:30 AM . - Friday, Feb 21: Flash Manufacturing PMI and Flash Services PMI, both expected at 51.2, will be released at 9:45 AM. Market Analysis: - SPY: The SPY has broken out of its channel to the upside, reaching a new all-time high, as we predicted last week. The short-term bias remains bullish unless a series of lower lows emerge. - QQQ: While QQQ has broken out, it hasn't hit a new all-time high yet. Given the current momentum, this is likely to happen soon. Trade Ideas for the Week: 1. INFY $21 Cash Secured Puts: - March 21 Expiry - Minimum .40/contract - You can wheel it if you're assigned at a lower cost basis, otherwise collect your close to 2% in premiums on this one. 2. Small Cap Gap on RXRX: - Gapped up on news of investments from NVDA. 3. Earnings Trade on U: - Reporting Thursday in the Premarket. - Watch our earnings video in the classroom for specifics on executing this one. Sector Spotlight: - Tech Sector: Trading above the 5 SMA for 9 consecutive days, indicating strong bullish momentum. - Semiconductor Sector: Similarly, trading over the 5 SMA for 8 days, showing upward momentum. Trading Strategies and Considerations: For those exploring different trading strategies, remember to visit our pro community for more information on: - Long Term Strategies - Day Trading Strategies - Swing Trading Strategies What to Avoid: 1. Stocks with less than 1 million average volume. 2. Stocks trading so low that options contracts are more than $1.00 apart.

Quick market rundown for the week ahead... 📈 Market Snapshot • SPY and QQQ maintaining strong uptrend • Both indices above key moving averages • Recent breakout from downward channel looks solid • Remember: Trust the charts, not social media fear! 📅 Important Data This Week • Monday: ISM Manufacturing & JOLTS (10 AM ET) • Wednesday: ADP Employment & ISM Services • Friday: Jobs Report (NFP, Unemployment Rate) ⚡ Quick Tips • Focus on price action, ignore the noise • Watch market reactions to economic data • Keep those position sizes in check Drop a 🔥 if you're ready to crush this week! Want more detailed setups and analysis? Check out our Pro tier! 👊

Let's break down what's happening in the markets this week and what to watch. 🚀 Market Snapshot: SPY has broken out of its recent downward channel and is flexing all-time highs! While volume hasn't been explosive (suggesting some big players are sitting on the sidelines), the momentum is undeniably strong. 📍 Key Levels to Watch: • Primary Support: $605.36 (Wednesday's gap-up) • Secondary Support: $590 area (channel breakout zone) • Resistance: $611 (Current ATH) ⚡ Big Market Movers This Week: 1. FOMC Meeting (Wednesday) - Current rate: 5.25-5.50% - Keep ears tuned to Powell's commentary 2. GDP Report (Thursday) • Expected growth: 2.3% annualized • Focus on consumer spending data 3. PCE Price Index (Friday) • Key inflation indicator • Looking for sub-3% print 💡 Strategy Corner • Play it smart ahead of FOMC - consider reducing risk exposure • Best entries: trend support or breakout retests • Keep position sizing disciplined and aligned with risk levels 🎓 Don't Miss Out! Join our free on-demand masterclass this week: "Mastering Risk Management" - perfect timing for this market environment! Remember: This week calls for extra discipline with major economic events ahead. Stay sharp, stay focused! ✌️- Derek Questions? Drop them below! 👇

Selecting the right broker is a super important part of trading that isn't talked about a lot. The broker you choose can significantly influence your trading experience, costs, and even potential returns. So, here's a breakdown of what to look for in a good broker and some of my top recommendations for the Legacy Profits Club crew. 👀 What to Look for in a Good Broker - Trading Costs: Look for transparency in fees. Brokers usually charge commissions and fees. Sometimes, they charge spreads too. The best brokers offer low to no cost trading and zero commissions on certain assets, which can save you a lot of money over time. In reality, there's almost no reason to be paying high fees with all of the competitiveness of brokerages these days. - Trading Platform: User-friendly and powerful is what you want. Here are the biggest features to consider: 1. Ease of Use: Make sure the interface is intuitive on both desktop and mobile. 2. Advanced Tools: To save you on paying for charting software, find one with good charting capabilities, technical analysis tools, and the ability to have real time data. 3. Customization: You want access to lots of indicators and the ability to code your own indicators if need be. - Asset variety: You want access to stocks, ETF's, forex, options, futures, and maybe even cryptocurrency. Make sure your broker offers a wide range of tradeable assets to diversify your portfolio. - Research and Educational Resources: Good brokers are going to give you the tools you need for market analysis, trading alerts, and articles to help you figure out how to get the most out of what they offer. - Customer support: You want effective, responsive customer service. Make sure your broker offers 24/7 support with multiple contact options. - Account Management: Consider how quickly funds settle when deposited or moved. You also want brokers that offer important things like margin accounts. ✅ My Suggestions for the Legacy Profits Club ✅

This week's trade review will be VERY helpful on how to best trade something that is above most of the intraday resistance levels such as pivot points, etc. Let's dive in! Premarket (picture 1): As we discussed, WBA received positive earnings and upped their guidance for the year. Because the stock was so beaten down people flooded into it sending higher. In fact, so high that it was above all of the pivot points and potential intraday resistances before the market even opened. For the sake of record keeping, we'll update the spreadsheet using just a resistance level since I haven't taught on this yet. When there are no resistance levels left on the intraday chart, where do you find profit taking zones? Zoom out. Probably the easiest thing to do is look at the daily chart and mark the next two daily closes above the current trading level (picture 2). Those are great profit taking areas. The trade: 15 minutes after open, we got our high and low. The high was our setup entry and the low was our stop loss. As you can see, the downside risk was B level so we would use 50% of our normal position size. Entry happens on the second candle of the day. After giving it room to breathe, we hit our first profit target, $11.87, about 90 minutes later. Price topped out shortly without getting stopped and we closed out our position by the end of the day. (Picture 3). Profit on a perfect execution: Entry at 11.42 1/3 of shares sold at 11.87 for 3.94% 2/3 of shares sold at close at 11.75 for 2.88% Total Profit: 3.23%