SPY and the Nasdaq 100 ETF (QQQ) or Qs as I like to call them…sometimes give me opposite reads. Bullish over here, bearish over there, both at once, and I traded them both. Everybody assumes that can't happen. You get a call setup in SPY, so obviously you've got the same thing in the Qs, because they move together, right? Sometimes the direction's different. The Qs don't own a single bank. Not one. The Nasdaq-100 throws financials out by rule, which means JPMorgan, Bank of America and Wells Fargo are all sitting outside the fund. SPY carries about 14% financials. So on a morning when the banks are ripping and tech is taking a nap, SPY has an engine running that the Qs simply don't have. Those two charts are not going to tell you the same story, and there's nothing mysterious about why. It goes the other way too.

One of my members, Nina, asked me about a loss last week and I want to walk through it because I think it happens to a lot of traders. The setup was great. It was a perfect entry, the level was narrow, and I coudn’t see anything wrong with it. But it still went red because news came out right around eleven o'clock and just sucked all the momentum out of the tape. That happens. You can't fight news, it's going to get you here and there and there's nothing to do about that one. But it got me thinking about what you can control, because there's a thing I look at on every single entry and I don't think enough people are looking at it.   It's the wick. Quick refresher for anybody who needs it. Every candle has a body, which is where price opened and closed, and

I put out a video on Newmont yesterday and sent it to you. In it, I said the path of least resistance was higher. Today it traded above $113 a share… Look at the volume profile down the right side of that chart. Those bars show how much traded at each price. Down around 95 and 100 they're fat. That's where everybody bought, everybody argued, and price ground sideways for months. Now look above 113. Thin the whole way up toward 120. Nobody accumulated up there, so nobody's stuck waiting to get out at breakeven, and there's nothing overhead to slow it down. When a stock clears the last fat shelf into air like that, it doesn't walk. It runs. It blew through my first target at the 200-day and past the 107 I was watching. My members closed calls for around 175%. And gold looks like it's just getting