The word of the day is…

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When I look at the markets this morning, the word of the day is “caution.” You need to be careful about your next step, and it might be smart to let things play out a bit before diving into any trades. With that said, I actually think we might be setting up for another rip higher. Let’s talk about it for a while.

My Perfect Week Trading the Opening Bell

I don’t try to brag on myself too often, but I’m proud to say that some of my traders and I had a perfect week in our Opening Bell trade room this week.

On Monday, I closed a 50% win in four minutes.

On Tuesday, I closed a 52.78% win in 46 minutes.

And on Wednesday, I closed a 14.29% win in 62 minutes (smashing what most savings and investment accounts make in a year!)

Of course, I’m not saying those results will happen every time — returns are never guaranteed and trading is risky — but they are real results from my trade room this week!

(See how I did it here)

Happy Monday morning. Hope you had a good weekend.

Now’s the time to settle in, take a look at the charts, and start to plan for the week ahead.

And when I look at Nasdaq futures (NQ!), I see something really promising…

That chart looks like it’s setting up as an “echo” of the COVID drop.

What does that mean?
Well, the heart of my Echo Trades system requires using Fibonacci to measure repeating price movements in the market.

And it looks like we’re seeing a major repetition of the pattern that led to our explosion out of the COVID crash.

In other words, that means we could be setting up for a big rip higher.

So why am I advising caution?

Well, the truth is, not every potential echo trade setup actually materializes.

If it turns out NOT to be an echo… we can do something else. Potentially go lower, or see only a marginal move higher.

Just because it is set up as an echo doesn’t mean it will hold the pattern.

So we need to hold on for a bit and wait to see what will happen next.

In the meantime, there are a few companies reporting earnings this week that you might want to know about.

I don’t really trade off earnings — I’m all technicals.

But if you trade these companies, make sure to pay close attention this week because price can fluctuate significantly around earnings reports.

Hope you have a great week,

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Jeffry Turnmire and InvestPub do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.

_{Daily Profit Publishing and Jeffry Turnmire do not provide investment advice. Trading involves a substantial risk of loss and is not suitable for all investors. Many traders fail and you should not trade with money you cannot afford to lose. If you need personal financial advice, consult a financial advisor.}

_{We are not licensed to provide you personalized investment advice. Nothing in these communications should be construed as personal investment or financial advice.}

The word of the day is…

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