The markets are still trending bullish with SPY hitting new all time highs last week. QQQ, though lagging, is showing signs of potential for new all time highs sooner rather than late as well. SPY is now 8 days above the 5SMA showing continued momentum to the upside. QQQ broke out of a bull flag pattern on Friday (keep in mind it's on lower than normal volume). This week is fairly calm when it comes to potential market moving events on the calendar. Several employment data updates in the premarket to watch that could set important levels to watch for the day. The breadth of this current bull market is really showing in multiple sectors. Tons of sectors are trading over 7 days above the 5 period simple moving average as we speak. Bull flags are setting up in the real estate and building materials sectors. Pharmaceuticals and biotech are showing potential signs of a bottom being put in (keep them on watch for confirmation). My first trade idea for the week is a repeat of the SXC Cash Secured put from last week. Price is trading sideways currently and there is decent risk to reward there. You can read more details over in my newsletter here.

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Just wanted to wish everyone a Happy Thanksgiving! I'm thankful for this community for helping me through the growing pains of becoming a trader. Thank you, @Derek Barnett and @Colby McElrath for building this haven, and a big thanks to @Michael Ford for being my accountabilibuddy and keeping me honest. 🦃

Hey Trash Panda Traders! Let’s build a strong community by sharing our daily trade recaps. What did you trade today? What strategies worked, and what didn’t? Let’s learn from each other and refine our skills together! Drop your charts, insights, and any lessons learned in the comments. 💹🔥

Grade: C Entry Criteria: Price opens at or below $12.39. Entry: Buy stop limit order for $12.40 Target 1: $13.02 Target 2: $13.64 Target 3: $14.26 Target 4: $14.88 Target 5: Trailing Stop Hard Stop: 4 hour close below $11.10 Begin trailing stop loss after first target is hit. Rationale: TDOC gapped up today after announcing a new AI enhanced virtual sitter system designed to improve patient safety, address workforce challenges, and enhance care delivery for hospitals and health systems. It recently broke and held above the 200 day moving average. Hedge funds and institutions have recently increased their stakes in the company as well. Comments: With this entry below around $11/share this is an executable trade for a smaller account and only needs to be checked on once or twice a day with a casual glance at the 4 hour char. To learn how to execute this trade with precision and how to size the trade accordingly, I highly recommend watching my free tutorial on how to trade this specific strategy.