Wealthpop

When it comes to our trading strategy of simple trading, Boston Scientific (BSX), is setting us up for another straight forward play. When looking for trades it’s important to realize they can’t all be this cut and dry, however, when you do fund setups that are, they require extra attention.
Such is the case on BSX. Looking at the chart, we can see one major level of support around the 50 mark. It would almost appear this is another head and shoulders setup, but the fact that we have to say “almost” negates it entirely. Why? Well, if you have to second guess, the rest of the market likely has to as well and by that time has probably written it off as not being one.
In any case, this level of support is a big one and creates one of those scenarios where you can play this stock either way. First, if the stock fails to hold 50, it’s reasonable to assume that lower prices are incoming. On the other hand, if the stock manages to hold this level, a bounce back up toward 54, or a previous level of resistance could be in the cards.
This is a scenario where you must be patient in order to catch the correct move. Price is the ultimate indicator and will tell us just where the play is to be made. We have the key level to pay attention to, now we just need to gauge price action at this level in order to see where participants step in to take the stock.
A doji candle is often a clear sign of reversal as buyers and sellers fight for an equilibrium. If this were to happen at this level, a bounce may be taking place. If price was to flush through this level without much resistance, look out below. Another thing to help with determination of which trade to take would be the overall market.
Is the market showing weakness? Or is it back to pushing higher? It is also important to note that on many of the key tickers, as well as SPY and QQQ, we are also at key levels that could lead to a stronger push higher. These are all factors you’ll want to consider when placing your next trade.
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Christian Tharp, CMT

As the market continues to decline, it may be hard to imagine we are still in the midst of a bull market. However, our next trade idea on Disney (DIS) is a bullish one. If you take a look at the daily chart on DIS, you’ll notice a pattern. Do you see it?
Before you go watching the video, I’d like you to pull up the chart and see if you can spot it. Well, if you read on this far ahead, you probably thought the surprise would be given away, not just yet. This pattern is a bullish pattern, but if you’re looking at the DIS chart, you’re likely thinking anything but.
The pattern is a descending wedge, a pattern that only forms after a substantial period of declines. Yes, DIS has hit a rough patch lately, but at least in the short term, the stock found some relief. After bouncing and finding support at the 85 level, DIS climbed all the way back above 90 with some decent volume.
This the kind of move you would like to see if the stock has any hope at making a recovery. Watch for this 90 level to act as support here. If the stock can hold this level and get some help from the rest of the market DIS could be on its way higher. Watch this trade in order to catch some gains to the upside in a market that is being stingy with its bullishness at the moment.
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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

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Christian Tharp, CMT

There are plenty of those investors that assume the market is turning back over after its impressive run higher over the past several months. While there may be some truth to this after many stocks have fallen lower, along with Apple’s (AAPL) weaker-than-expected earnings results, we still need more evidence to prove there is no bounce level in sight.
For a stock like Nvidia (NVDA), a stock that has been on a run unlike many others in this market, we could be closer to finding out if that is the case or not. We had been tracking a NVDA channel upwards for sometime and at the same time, a bull flag began to be forming as well. That was, until price broke below two levels that were supposed to be acting as support.
Now, the stock is looking like it may want to continue to pull back. After one channel’s support level broke, it didn’t take long for the other to break also. If bulls have any hope of propping the stock up and preventing a larger move downward, 400 is going to be the last real line of defense before the stock flushes all the way down to 370 and beyond.
Make sure to watch the video below for all the details of this trade to have on watch, so you can be sure to not miss the move.
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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

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Christian Tharp, CMT

– ETF Watchlist –
As it stands right now, the market is in a bit of a consolidation zone, not sure if it wants to breakdown and finally reverse the trend or if this is just yet another pullback before another move higher. There have been many instances over the past few months of a pullback before another leg up, so you wouldn’t be totally wrong to expect this be the case.
However, it is wise to keep the possibility of a move larger than a pullback in the back of your mind. As buyers become more exhausted, the possibility of a larger pullback becomes a bit more likely. But, not until the trend totally breaks down should we be nervous.
iShares 20+ Year Treasury Bond ETF (TLT)
There has been one trade we have had on our radar for what must be months now and that is the breakdown of the TLT and the 99 level on the price chart. This break of this long-held support level comes at a time where the yield curve inversion is still in place.
The breakdown of this level implies lower prices could very well be in the future. Seeing as how price is currently trading below this level, a short postion could be put on with your stop at or above 99. If price were to reclaim that mark, you would simply exit the trade and start over looking for another.
Keep this trade on watch or if you want to enter, determine the amount you are willing to risk and be sure to stick to your risk management! That is the number one rule of trading, capital preservation.
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When you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…
Good Luck With Your Trading!
Christian Tharp, CMT

For the last couple months, Nvidia (NVDA) has been one of the best performing stocks in the market. However, despite this outperformance, the stock has found itself somewhat bound between a few levels of resistance and support, forming a wedge pattern in the process.
There is still a lot of hyper surrounding the artificial intelligence development, which NVDA stands to be one of the largest benefactors from. If the market can get a postive pop from the rest of earnings, we should see another leg higher.
As has been the case all throughout this bull rally, it has been fraught with pullbacks and areas of consolidation. These are areas where we need to take a step back and determine whether or not the trend is still intact and find A+ setups.
Here, we have a clear wedge forming on a stock that has obviously been in play for quite sometime now. But, the reality of this pattern is it often swings to a bearish move on the stock. If the upper level of this formation is able to be broken, that could pave the way for the stock to hit that 500 mark.
If the stock can’t break the upper level of resistance, then the stock would likely fall back to the lower bound of the formation before pausing. Keep a close eye on this stock as it is prone to make massive moves. If the market finds more life, expect NVDA to be leading the way.
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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

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Christian Tharp, CMT

– ETF Watchlist –
Although the market has been showing us signs of weakness throughout the past week, there is still cause for being bullish on the market overall, especially when you zoom in to certain sectors of the market. In every bull rally, there are pullbacks, which are actually healthy to the overall trend and its ability to move higher.
When you remember that the big boys are trading much like we are, it is important to realize that when they take profits, their postion sizes are large enough to move the rest of the market as they do. Once you realize this, it is easier to calm your nerves as the market takes a couple days to get back on its feet.
However, despite this profit taking that seems to be concentrated in the tech sector, there are still areas of the market that seem poised to make a move higher. Once of these sectors is oil.
SPDR S&P Oil & Gas Exploration & Production ETF (XOP)
The oil and natural gas area of the market has been under somewhat of a lull at a key level of support, especially when looking at the price of oil as a benchmark for the rest of the sector. After pushing off the 75-76 level, the price of oil looks ready to continue its march higher.
One way we can look to play this bullish move on oil is the XOP, which has also had itself quite the bullish move over the past month or so. If oil prices can breakthrough 80, then the rally in oil should be substantiated. If so, then looking to XOP and XLE as a way to capture this move higher are options that should be firmly on the table as long trades.
Be sure to keep this trade idea close to the top of your watchlist as the Smart Trades community will be doing the same. To find out if and how we trade this, you’ll need to become a member today! You won’t want to miss our next big trade.
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When you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…
Good Luck With Your Trading!
Christian Tharp, CMT

– ETF Watchlist –
The market had a seemingly pretty bullish day on Wednesday, if we can continue this, it may just confirm that the rally is back on. Since this is the case, there should be plenty of opportunity to make some money in this market.
We have had our eyes on a couple different sector and industry ETFs, all of which look they want to make a move soon. XLK is the obvious one, if the tech sector continues to build off the strength of yesterday, carried by META and other tech names that have been on the move, expect this ETF to go higher. XRT is a name we wrote about earlier in the week.
After CPI came in a bit lower than expected XRT could be a trade to watch on a pullback. Despite all this strength, there were sectors that didn’t get to participate, this is where healthcare comes in. XLV is looking pretty sluggish in the face of the bulls running, keep this on watch as a potential short opportunity.
However, there is one industry ETF that has been putting many others to shame and doing so without much attention being paid to it.
SPDR S&P Homebuilders ETF (XHB)
That would be the homebuilders ETF, XHB. Up nearly 25% over the last three months, we may have missed our golden opportunity, however, there is always another chance to make some money in the market.
With the overall market waking back up and looking ready to continue higher, we believe, XHB can only benefit from that bullishness. There is one thing to keep in mind, look for the best entry possible. If the ETF gives us a pullback, which looks increasingly likely after the type of moves the price is making, then we can look to enter with our risk management already fine tuned.

Currently, the pullback level to watch is 82.5. If prices drift lower to this level, gauge sentiment, look at price action, and determine if it is still a high probability trade. If you were swinging this trade, you would want to get the best entry as possible and 82.5 could be it.
Until then, wait patiently for the opportunity to present itself. If the pullback does not happen and we miss the move, well then we simply continue to wait for the next available opportunity.
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When you join my Smart Trades trading service today to see exactly how my students and I trade these types of scenarios! Smart Trades is where I teach my students how I trade options on some of the largest ETFs on the exchange. As you learn, you’ll get exclusive access to all my trades with notifications any time one is put on. Now, you can learn how many use this high-income skill to achieve financial freedom. Join today and as always…
Good Luck With Your Trading!
Christian Tharp, CMT

Depending on how you like the market in light of the surge that took place after CPI came in at 3% vs the expected 3.1%, our latest trade idea on Micron (MU) could be setting up to be a big winner. After climbing from the upper 40s to now well into the 60s, MU may have just resumed its climb after a brief pullback from the high of 74 it put back in a couple weeks ago.
The pullback occurred in a pretty well-defined downward wedge that could almost be seen as a bull flag if you’re using the higher timeframes, a pattern that usually favors the bulls. If this is the case, MU looks ready to make another run at that 70 level.
As the market surges on the back of a bullish CPI report, the rally looks to have gotten that second leg we spoke about here yesterday. Seeing as how we are in a bull market and still in an up-trending market, the possibilities of this being the case are more likely. We are never ones to fight the trend and the trend MU has been putting in, as well as the market overall, points to this trade being higher probability.
However, finding the right entry is key. Any pullback to around 64-66 with a bounce upward should be viewed as a good entry point if you were swinging calls for a period longer than two weeks or so. Be sure to have this trade mapped out on your trading platform so you don’t miss a move that could pay very well for those who exercised patience.
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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

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Christian Tharp, CMT

Hands down, one of the strongest stocks in the market right now is Apple (AAPL). After the stock’s meteoric rise, the value of the company has reached $3 trillion dollars in a first for any company in the world. However, will this momentum continue or will the stock give back some of those gains from the past several weeks?
Looking at the chart on AAPL right now, you would be fighting the trend to take any short positions. If you were to look for any short plays, traders would want to keep a close eye on the 190 mark. This whole psych number would almost assuredly lead to lower prices should the level give way.
However, the best risk reward of this trade may come at the top of the channel AAPL has been trading between for quite some time. Indeed, if the market does continue to lose some steam, another pullback could be in the cards. If a pullback does take place, it would most likely be cause by a stock like AAPL giving back some of these gains.
There’s a catch to this trade. If the 190 holds, we could see a push back toward all-time highs. If this happens, the level to watch for a break to the upside would be 194.5. Mark both of these levels on your charts today, so you are ready for whatever tomorrow brings.
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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…
Good Luck With Your Trading!
Christian Tharp, CMT

As we often say, finding levels and price where stocks react to the upside or downside and drawing those levels out on your charts is exactly like mapping out the market for that particular stock. They tell you when to go short and when to go long as a map would tell you to go left and to go right until you get to your destination.
When we look at a stock like UnitedHealth Group (UNH) you see that this is very much the case. After bouncing hard off the floor of support at 445 the stock made quick work of moving around $20-30 where it then consolidated for some time. This consolidation was a result of the bulls and bears battling over trying to find an imbalance to one side or another.
The two levels that formed the top and bottom of this channel as the two sides fought it out were 483 at the top and 473 toward the bottom. Well, this week, it would appear the bear prevailed momentarily as the stock broke through that floor on a move lower.
This would imply a move lower for the stock, especially if the market were to move lower as it did this morning on the back of some hot jobs data dropped by ADP. Now, the target we have our sights set on if this move has legs would be around the 460 mark, a substantial move to the downside.
For those of you looking to take a short position, this is the stock to keep an eye on. However, be sure to draw your map on your charts so you have visual representation of where the stock’s price will react next.

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Learn to trade like this for yourself when you join The Profit Machine. There, you’ll learn all about my favorite stocks, setups, strategies, and plenty more. You’ll also be invited to weekly webinars where I answer questions and go over important trading lessons, like the one in today’s article. The best part, you’ll also receive live trade alerts. Not only will you get a world-class education, but you’ll earn while you learn.

Get a jump start on your options education and put yourself in position to win in 2023. Sign up today! Until then…
Good Luck With Your Trading!
Christian Tharp, CMT