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Off the Charts: March 15, 2017

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Welcome to your FREE sneak preview of T3 Live’s Off the Charts newsletter. Off the Charts gives you actionable, easy-to-implement stock and options trade ideas straight from our top professionals. We’ve posted for you the complete March 15, 2017 edition of Off the Charts so you can see the high-quality trade ideas and in-depth analysis that Daniel […]

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T3’s Take 3: Stocks Grind and We All Ask What’s Next?

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1) Stocks Grind After the Fed Yesterday, we saw a pretty solid equity market rally after the Fed raised rates, but stocks went right back to sleep today. The S&P 500 fell -0.2% to 2381.38, and the Dow and Nasdaq barely moved as well. The action under the surface was pretty mixed. The Russell 2000 outperformed […]

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Mr. Cooper Has Set the Price, and It’s 2370

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2370 is the key level to watch in SPX. This ties to yesterday’s lows and the 20 day line. So snapping 2370 in short order will also leave Train Tracks, as noted earlier in the Daily Market Report. The SPX has already triggered a down Opening Range Breakdown (a break below the low of the […]

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Weekly Sentiment Update: The Crowd Is Neutral but Options Traders Are Running Wild

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Permabulls always say everyone’s bearish. And permabears always say everyone’s bullish. But let’s look at the actual numbers to see how the crowd actually feels. Last week, we saw sentiment fall to neutral territory after two weeks of strong bullishness. (see here and here) So with the Fed out of the way, let’s see if anything’s changed […]

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T3’s Take 3: Fed Hikes, Stocks Up, Dollar Down

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1) The Fed Raises Rates As expected, the Federal Reserve Open Market Committee raised rates by 25 basis points today, and said it sees two more rates hike this year Fed policymakers also issued positive comments on the economy. They said inflation is “moving close” to the Fed’s 2% target, while job gains are “solid” and […]

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Technical Breakdown: LULU

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From yesterday’s edition of the Off the Charts newsletter: There was good news and bad news on LULU tyesterday. The bad news is that the market weakness dragged LULU lower but it held the 100day sma well on the first test. The good news is that the bounce off of the 100day sma was lackluster […]

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Is That an Oil Selling Climax I See?

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After steadily rising for nearly a year, crude crashed last week, ending down more than 9% and closing below $50 a barrel for the first time since the election. A year ago oil was the tail that wagged the equity dog. That correlation broke in December. For example, XLE left a large range Gilligan sell […]

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Chart Analysis: SPX

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Today is the Fed Day. We will want to see if we get hints about 3 or 4 hikes. We just experienced our first pulback of 2017. Will that be it? Or just the start? We have important support to trade against. 2354 – 2358 is a big level. A break and close below that […]

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T3’s Take 3: Stocks Grind Ahead of Fed Day, Oil Sinks

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1) Crude Oil Still Stinks Crude oil fell again today after Saudi Arabia said it increased production. To be fair, oil doubled in a year, so some profit-taking may be in order. However, let’s hope it can resume the uptrend, or at least hold the $46-$47 area. Oil’s rebound off the $26.05 February 2016 low […]

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What Is an Uptrend, Exactly?

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In technical analysis, one of the biggest mistakes you can make is to not have clear criteria for the patterns you’re looking at. What do we mean by that? Quite often, you’ll hear traders use terms like head & shoulders and support and resistance. But you never hear But you never hear about the criteria […]

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