Category Archives for Scott Redler
Can IBB Power Even Higher From Here?
IBB has been in close focus for Redler All-Access this week. On Monday, I told readers this: The bios held in well and perked up as IBB held $115 and cleared $117. Perhaps this week it gives a better move above $118.40 towards the $120 highs. We’ll look for clues. I ended up getting long during the day as it cleared the $118.30 area. If that level holds, I’ll try and stay in. In time, it seems like it should clear $119.78, then $120.06 for more upside. So keep those levels on your radar.AMD (AMD) has been another big name for us. It’s been a great vehicle in 2018 and hit short and longer-term objectives fast. It’s been very extended and I got short earlier this morning. I’ll proceed carefully with it.If we’re talking AMD, we should cover NVDA too. There was a big Red Dog Reversal buy signal last Monday around the $243.73 pivot. It also had power to clear $263 and hit $278.90 yesterday. I would not chase it here. Maybe it gives a cute short opportunity but I’ll proceed carefully in any case.
Continue Reading -->When Red Dog Reversals Signal an Igniting Market
Last week I was at the beach, trying to manage my long trades while catching some waves with the family. Things were great on both fronts — I had a great time on my trip, and the market gave us a lot of good trades. The action showed how you didn’t need to be watching the market 24/7 to catch the big waves. At the very least, two big Red Dog Reversals on Monday should have had you looking for long opportunities. Let’s start with the first: On Friday 8/17 Nvidia (NVDA) gapped down big after hit after earnings…. and then Monday 8/20, it roared back to life with a Red Dog Reversal around the $248.73 pivot. It reclaimed all moving averages, filled the earnings, gap, and it’s sitting at record highs this morning.Netflix (NFLX) also started last week with a big Red Dog Reversal signal. It’s gapping up over $374 this morning as it climbs further out of the earnings penalty box to reclaim the 8 day.AAPL has been good to us with a big move from $197 to $219.18 in a month. Last week, it consolidated while the SPX made new highs. I re-entered vs. the $214.50 area. I would like to see it get and say above $217.20 for a move back to the highs and perhaps $220+.TWTR has not been a barnburner, but it hit a high of $34.74. We’ll see if it can hold $33.50 this week to keep working towards the $37 gap area. But I’m not trying to add on strength – I’m looking to possible trim some and buy some back on a dip.
Continue Reading -->Scott Redler: Connecting the Dots on AAPL & BABA
We’ve been keeping a close on AAPL and BABA in Redler All-Access, so let’s break each of them down. They’re different stories — AAPL’s been a shooting star since earnings while BABA only caught a bid today. Here’s how we’ve been tracking them. This is the ‘Before Chart’ I posted yesterday morning. There was word that Turkey would boycott US electronics, and that China might do the same, but as you know, I like charts more than news. So what was the chart telling me? That AAPL needed to hold the $207 area to stay special. Yesterday, Apple was green in a sea of red, and I got long for a new entry. I then sold some this morning, and I want to see if it closes above $210.95. The measured move still points to $217ish.Now let’s turn to BABA’s ‘Before” chart. It was under pressure since the island top with most strength getting sold. It was below the 8/21 day and we needed to see how it handled big support at the $164-$166 area. BABA held the $164-$166 area and bounced. Now it has room to the $174 area, but I would take trades until it proves it has some real power.ddddd
Continue Reading -->Scott Redler: Is This Late January All Over Again?
During the past few sessions, I’ve been updating my daily SPX chart to show a comparison with the late January Island Top, which was right before the 2/2 plunge.What does the present day have in common with late January? Let’s see. Both times, we went below the 8 day first. Both times, the gap went unfilled, which was a sign of weakness. The market usually moves in the direction of the unfilled gap — to the downside in this case. That means you have sellers in control. My process puts me in Tactical Mode when the 8/21 break since those are my momentum moving averages. Remember, to see the 50/100/200 day, the 8/21 day have to break first. Tactical Mode means I start taking profits and cleaning up ‘loose longs.’ This morning, I closed out/was stopped out of my longs in names like AMZN, AMD, GOOGL, and FB. That’s not what I wanted for today, but taking paper cuts is part of the game. It’s not fun, but it’s better than gushers, which is why I respect my stos. But remember, panic doesn’t pay. So let’s get our levels mapped out. For a real correction, we need to stay below all moving averages. For now, if we stay below SPX 2819, there could be a trip to support around 2796. The 50 day is underneath at 2789. I’m not calling for a correction or crash — I’m just keeping my options open.
Continue Reading -->Scott Redler’s Tech Stock Breakdown: Citron Boosts Twitter
Tech’s always a big focus for me, so let’s go over some of my favorite charts sent to Redler All-Access subscribers this morning. Twitter (TWTR) has not been special, but this morning, I thought that trying it long vs. the $31.50 area could work. I went long some after the open, and then it got a boost from Citron Research, which issued this note:Here’s the initial chart I sent out:And here’s the followup chart I sent to RAA subscribers later this morning.I added around $32.85, and now I’ll try and trade around a swing long.Now let’s look at Google (GOOGL). It’s been a little sloppy and I got stopped out on Friday. I’ll see if I want to buy it again if it holds $1247 and acts well today. $1261ish is Friday’s high to watch.Apple (AAPL) still looks special and it was one of the first names to go green Friday. I nibbled a little this morning, because when the market wants to hold, AAPL seems to get ‘Go To’ status. It says that way as long as it holds $206.67. A strong move and close above $209.78 would be impressive.Alibaba (BABA) has been under pressure since the island top, and a lot of strength was sold around $200. It hit a low of $174.45 Friday. On Friday, it showed relative strength for the first time in a while and held the gains all day. I nibbled on some calls for earnings. Today, we’ll see if it says green to keep traders interested.And it’s not pure tech, but let’s look at Biotech (IBB) since it has so much attention. IBB is hanging on by a thread, and it really needs to hold $116ish. A hard close below that will get the active bulls out. If that happens, it will need more time to rebuild.
Continue Reading -->Can Apple Stay Special and Go Again?
Apple (AAPL) has been great to the Redler All-Access community. It gave us time to buy after earnings and hit a high of $208.74 on Friday. Now, it would be good to sit over $205.48 for a session or so to create a flag-type pattern. That could keep it special to possibly go again.Amazon (AMZN) didn’t have enough power to hold and go after earnings. If the market is going to be strong, it will need leaders like this one. To act special and help things, it needs to hold $1801 and perhaps $1841. Above $1841 could bring momentum back.Google (GOOGL) was a great options/earnings play. It put in a high at $1292 before tech came under pressure. If it can hold $1229ish, perhaps it gets tight enough to clear $1246-$1253 to get back in play. But it will need big volume.
Continue Reading -->Announcing a Major Change to Scott Redler’s Private Twitter Feed
Dear Traders, Beginning January 1, 2019, Scott Redler’s @RedlerAllAccess will only be available to paying subscribers as part of their “FULL” Redler All-Access subscription. The “FULL” Redler All-Access subscription is Scott’s flagship service offering a streamlined user experience including:Scott’s Morning Note newsletter with detailed analysis of 25-35 stocks, ETF’s, and indicesThe Morning Call and Daily The Daily Recap videos, which include extended technical analysis breakdowns of the market actionThe @RedlerAllAccess feed for Scott’s real-time updatesYou’ll have access to ALL of Scott’s daily content in this one powerful service, where subscribers are part of a unified community. How the Transition Will Take Place As of January 2, 2019 – the first trading day of 2019 – you will only be able to receive Scott’s valuable real-time market intelligence through the @RedlerAllAccess feed if you are a member of the “FULL” Redler All-Access service. Nothing will change for “FULL” Redler All-Access subscribers that are already enrolled in the FULL Redler All-Access subscription. If you are not a “FULL” Redler All-Access but would like to join and get the full benefits of Scott’s daily market commentary and technical analysis, please click here or contact customerservice@t3live.com or call 1-888-998-3548. Sincerely, T3 Live
Continue Reading -->How Apple Can Stay Special After Earnings
Apple (AAPL) had a solid earnings report across the board and gave time to buy after hours around $194-$196. It cleared that and is at $198+ this morning. I trimmed some but will stay with some. We’ll see if the momentum stays. To keep it special, it has to stay above $196.Facebook (FB) has a huge hole in its chart post-earnings. On Monday, it broke $173 to hit a low of $166.56. Yesterday, it held above the low and I got long. Today, I’ll see if it holds $170ish for one more push above $174.24. But it’s hard to add on strength.QQQ held the 50 day Monday for an oversold bounce. Now we need to see if it builds. Bigger resistance is in the $178.50 area. Watch AAPL to see if it holds and builds, or sells down — that will tell us a lot about sentiment.
Continue Reading -->Apple Earnings on Deck: These are the Levels to Watch
Apple (AAPL) reports after the close today and as you know, it’s an important one to watch. There aren’t many names breaking out and holding to the upside, so the report needs to be super special. I have $190 calls on, which I might take off since there will be a decent premium baked in. But we’ll see. To keep momentum after hours, it needs to get and stay above $195-$196. If it misses, there is some support at $180ish, and then there’s the 200 day at $175.35.Amazon (AMZN) gapped up and couldn’t hold its momentum level of $1858-$1863. Then it sold down. Yesterday it started up and then was sold under $1805 to hit a low of $1766. Today it’s up again. See if it holds or if the same pattern continues. It’s important for tech psychology so keep an eye on it.
Continue Reading -->Where AMZN and AAPL Need to Hold Now
On Friday, Amazon (AMZN) gapped up and couldn’t hold the $1858-$1863 momentum level. It sold down. Now it’s up a bit this morning. This name is important to watch moving forward. Does it hold the $1805 area? Or will there be follow-up selling to hurt high-beta tech psychology?Apple (AAPL) tried to have a pre-earnings run but it sold down on Friday. Earnings are Tuesday after the close and I have calls on. I’m not looking to add. We’ll see how it reacts into the print. A move over $196 after earnings would help tech, but that’s a lot to ask for. SPX futures are -2. It’s hard to tell if the weakness in growth names will hurt the S&P. Today, we’ll see if we hold Friday’s low at 2808. But really, as long as we hold 2795ish, we can’t get too bearish. But it’s still a very specific type of trading action. Bios and small caps lost momentum, and lots of high-beta tech stocks are in the penalty box. AAPL earnings will be important.
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