If you are not profitable yet, you should absolutely commit to practice trading and forward chart reading for 90 minutes a day. (On TradingView you can do this via their replay feature.)

It’s what I did for years. My first teacher, Gary Williams of Elevated Ventures, would have us take back charts, draw them out, predict the next five days, and practice different forms of replay and forward chart reading.

And yes, I did some form of this for 90 minutes every. single. day.

When I was out at music festivals, I’d get up before everyone else and study before the drinks and music started pouring. I would travel with a 43” TV on roadtrips, to make sure I could practice well across multiple time frames. When Covid had me down and out, I was on my side playing candle by candle, sweating, sick, with barely enough energy to call out of work, but I still made sure I was on my charts.

Now, I do replay sessions 2 to 3 times a week, but I still spend an equal amount of time, if not more, each day in some form of study, review, chart work, or trade preparation.

For anyone studying the market as a supplement to their income, or simply wanting to invest better, I’m not sure this level of work is necessary. Some deliberate weekly practice is probably sufficient.

But for anyone who wants to be successful, and maybe even make this their career, there is no way around a committed daily practice. As my teacher would say, “no days off!”

When I meet new traders, I am very adamant with them about whether they really want to choose this as a career. I meet so many people who are successful elsewhere, or have interests in other things, but they say they want to pursue trading. And I always tell them that this takes a ton of dedication, time, and focus if you want to be successful at it…and if you spent the same amount of time on something else, you would probably become really successful at that thing too.

So be honest with yourself about whether you really love this arena. Trading is a long journey, and if you are willing to keep showing up, studying, reviewing, practicing, and refining, you will give yourself a real shot. But because it takes an insane amount of work, choose wisely. Be intentional about what you decide to build in this lifetime, and where your effort, energy, and attention go.

Last week, SPX started the week by undercutting the 10 EMA, then buyers stepped back in and price climbed back toward the recent highs.

It was interesting to see the poll results from the survey I sent out last week. Before the market opened Monday, votes were split between SPX holding the 7,400 area or moving back toward the late April range. The contrast was pretty stark, and there wasn’t much in-between, it was either confidence in continuation or fear of a deeper pullback.

Coming into this week, I added a few things to my chart:

Now the question is whether this recent pause is enough digestion for another leg up, or if price needs more time sideways before continuing.

Continuation Along the 5 EMA

More Sideways Digestion Above 7,400

Deeper Retracement Into the Prior April Range

I don’t think this last scenario is the most likely right now, but I still like to think a few moves ahead. If price starts moving differently than expected, I already know the next levels I’m watching. For now, the levels are marked, and we assess as we go.

Each week I drop trade ideas inside my group and wanted to share a few here today. Early last week a lot of names looked like they were wrapping up digestion and beginning to turn hold. We had entries on quite a few, but there are still some setups developing.

GOOG

GOOG is sitting on a key support zone around 377-379, which is prior support from the post-gap structure that was retested in mid-May and is now being tested again. The question now: do buyers build from here, or do we see a continued flush lower first?

AEHR

AEHR has a larger daily range from roughly 76 to 103, and on the hourly, most of the recent price action has been concentrated between 90 and 99. After pivoting from 76.87, price is now back inside that zone, so I’m watching whether the recent sideways digestion is enough to support another leg higher.

Trading takes a lot of repetition, a lot of review, and a real willingness to keep coming back to the charts even when it feels slow, frustrating, or far from glamorous. This week, stay honest about what you’re choosing, keep your levels marked, and let structure guide the next decision in front of you.