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Congratulations on completing Week 1 of our transformative journey!
Welcome to Week 2 of
“The Mindset Money Matters 6 Week Challenge!”
Last week, we selected our challenge and came up with specific measurable goals.
Feel free to “join the conversation” and share yours at the bottom of this post, it may help motivate somebody else reading.
Remember this challenge isn't just about encouraging change; it's about doing it together as a supportive and motivating community.
I. Mindset
This challenge is your ticket to self-discovery so uncover the layers, embrace the journey, and you’ll emerge stronger.
This week is all about gearing up for success, mapping out your path, and finding a reliable partner for the ride.
Prepare: Research mode! Arm yourself with information to make informed decisions. Whether it's breaking a habit, overcoming a fear or struggle, or learning a new skill, gather the knowledge and resources you need.
Plan: Let's get strategic! Create a detailed action plan outlining your weekly milestones. Break down your larger goal into small manageable steps, identify potential obstacles and plan how to overcome them.
Partner: Having a accountability partner adds a layer of support, encouragement, and shared success. Share your aspirations with a friend or family member who can join you on this adventure.
Using Procrastination as the challenge, here’s what Week 2 looks like:
Prepare
Understand your triggers: Identify situations, environments, or emotions that often lead you to procrastinate. Write them down- knowing and understanding your patterns is a cheat code.
Research Productivity Techniques: such as the Pomodoro Technique, Time Blocking, or the 2-Minute Rule. Understand how these techniques work and consider which ones align with your work style.
Create a Distraction-Free Zone: Identify a dedicated workspace that minimizes distractions. This could involve organizing your desk, using productivity apps, or setting specific phone usage rules during work periods.
Plan
Set Specific Goals: Instead of vague goals like "complete the task," break them down into specific, achievable objectives. For example, "Knock out your 2 most important work task within the first 60 minutes of starting work."
Time Blocking: Allocate specific time slots for different tasks. During these blocks, focus solely on the designated activity. This helps create a sense of urgency and prevents procrastination.
Prioritize Tasks: Use the Eisenhower Matrix to categorize tasks into urgent/important, important/not urgent, urgent/not important, and neither. This helps you prioritize and tackle tasks more efficiently.
Partner
Share Your Goals: Communicate your daily or weekly goals with a friend, family member, or colleague who can provide encouragement and support.
Check-In Regularly: Schedule brief check-ins to discuss progress and challenges. Knowing that someone is aware of your goals can boost accountability.
Celebrate Achievements Together: Acknowledge your accomplishments, whether big or small. Share your wins with your accountability partner, fostering a positive environment.
Remember, the goal is progress, not perfection.
Share your plan at the bottom of this post where it says “JOIN THE CONVERSATION” and we will help be your accountability partner.
II. Money
In our money section this week, let’s focus on becoming more financially savvy.
Using becoming more financially savvy as the challenge, here’s what Week 2 looks like:
Prepare
Educational Resources: Gather books, articles, blogs (like ours) and online courses on financial literacy to educate and reference daily/weekly.
Connect with Experts: follow financial experts on social media. Connect with individuals who have experience in the field- join online communities, forums etc. Engage with their content and ask questions.
Podcast and Webinars: explore financial podcast, attend webinars to learn and stay updated on the latest trends and insights.
Plan
Define Your Goals: Clearly outline your financial goals. Are you saving for a big purchase, investing for the future, or eliminating debt? Your goals will shape your learning path.
Weekly Learning Targets: Break down financial topics into weekly learning targets. For example, dedicate one week to understanding budgeting, another to investment basics, etc.
Weekly Budgeting: Break down your budget on a weekly basis. Assign specific amounts to different spending categories, ensuring you stay within your financial limits. Adjustments can be made weekly based on your progress.
Automate Savings: Set up automatic transfers to your savings account. This ensures a consistent contribution to your savings goals. Treating savings like a fixed expense helps build financial discipline.
Research Financial Apps: Identify and download financial apps that align with your goals. Apps like Mint, Credit Karma for budgeting or Robinhood, Charles Schwab for investing beginners.
Educational Schedule: Plan dedicated time each week to educate yourself further on personal finance. This could be reading a chapter from a financial book, watching educational videos, or attending a virtual financial literacy workshops.
Partner
Seek a Mentor: Identify a mentor who excels in financial matters. 🙋♂️ This could be a colleague, family member, or someone from your network who has expertise in the areas you want to explore.
Shared Learning: Make it a collaborative experience. Share interesting articles, attend events together, and discuss your takeaways. Learning becomes more enjoyable and effective when it's a shared journey.
Regular Check-Ins: Schedule regular check-ins with your mentor to discuss your progress, ask questions, and seek guidance. Their experience can provide valuable insights and shortcuts to success.
Unlock the door to financial empowerment – each key decision is a step towards a future shaped by your own design.
III. Markets
A shortened holiday week with volume trading on the lighter side didn’t alter market’s prevailing disposition, as it was another winning week for the major indices.
Here are the main points from last week:
Nvidia earnings was the headlining event as the stock had been on a tear +26% from it’s October 26 low.
- The AI chip giant reported blowout results yet again, but investors were disappointed that the company lacked visibility into how the export curbs to China will ultimately impact its sales in coming quarters.
FOMC Minutes suggested the Fed would raise rates again if it felt that was necessary.
Existing Homes Sales in October transpired at the slowest annual pace (3.79 million) since August 2010 crimped by high mortgage rates, high selling prices, and limited inventory.
S&P 500 Heatmap for last week
🚨 All eyes this week will be on 🚨
New Home Sales From a lower-than-expected 676,000 in August and Septembers' much higher-than-expected 759,000, forecasters see annual sales falling back to 725,000 in October.
- The level of new home sales indicates housing market trends and, in turn, economic momentum and consumer purchases of furniture and appliances.
Gross Domestic Product (GDP) The second estimate of third-quarter GDP, at 4.9% consensus growth, is expected to show no change from 4.9% growth in the quarter's first estimate.
-Gross Domestic Product represents the total value of the country's production during the period and consists of the purchases of domestically-produced goods and services by individuals, businesses, foreigners and government entities.
$SPY: grinded higher last week trading to 455 on lighter volume due to the Thanksgiving Day holiday and shorten week.
Are the bulls losing steam after such a powerful run?
We got a couple of doji candle days at our 455-460 key supply zone, a “sell the news event” on the company that’s carried markets this year by far even with steller earnings and extremely bullish excitement from traders….hmm time to proceed cautiously.
SPY over 456 trades to 458,460,465,468,470. Failure to hold 450 pulls back to 446,440,436,430
$QQQ: also grinded higher last week trading to our 392 price target. It is in a key supply zone 385-395 and may be getting a bit exhausted from such a run up.
QQQ over 392 trades to 395,398,400 and 405. Failure to hold 388 pulls back to 384,378,372,365
Most Anticipated Earnings this week
Trades Recap📊
Here are how some of our callouts did last week:
Interested in making your money work for you by getting our swing trade alerts ahead of time?
Comment at the bottom of this post “I am interested” for more information
$COIN: Coinbase traded to a new 52 week high last week tagging our $115 price target +50% return on your money from our $78 entry and write up here.
It is over extended in the short-term and coming into key resistance at $120-$130 so wouldn’t be surprised to see it pullback some and digest such an explosive move.
COIN over 120 trades to 125,130,135,140. Under 110 pulls back to 100,90,85
🧙♂️$DIS: Disney our swing trade from $81.80 entry tagged our $95 price target last week for a 17.50% return on your money. Next target is the $100 gap fill. See our callout and trading plan here
DIS over 96 trades to 98,100,105. Failure to hold 93 pulls back to 91,88 and 85.
💻$GOOG: which we wrote about here held that $120 and reclaimed $125 for a quick +12% bounce play as it traded back to that $140 resistance last week. It needs to get over $142 to start it’s next move up, for now still consolidating.
GOOG over 143 trades to 148,150,155. Failure at 135 pulls back to 132 and 128
Watchlist 👨🏫
Here are some charts we are watching this week:
⚡$XLE: Energy has formed a double cup and handle on the daily. Reclaim of $85 would be bullish and indicate a possible short term reversal.
XLE over 85 trades to 88,90,92,95,100. Failure at 82.50 trades down to 80 and 78.
💾$SMH: Semi's are flagging between $160-$165 right at their all time highs. Failure to hold $160 will start pulling back and filling in some gaps it left behind.
This may also bring a possible momentum shift towards risk off for markets.
SMH over 165 trades to 168,170,175. Failure at 160 pulls back to 156,153,150,145.
*None of these stocks above are recommendations to buy, sell or trade. We do not give financial advice, you should always do your own due diligence and practice proper risk management.*
If you are interested in getting our swing trade alerts ahead of time, comment “I am interested” at the bottom of this post for more information
This segment is brought to you by Ceni Capital which was founded as a way to foster a community of like-minded individuals and empower them to create long term wealth by capitalizing on shorter term investments.
Photo by Clay Banks on Unsplash
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