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T3’s Take 3: New Highs All Around… but Is Mr. Russell in Trouble?

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1) Record Highs All Around Bulls were celebrating today after the S&P 500, Dow Jones Industrial Average, Nasdaq, and Russell 2000 all made new all-time highs. Last week, some traders were concerned that the Russell  wasn’t making record highs with the other indices, so it was refreshing to see small caps rejoin the bull party. […]

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Russell 2000 Hits Record Highs, May Be Ready for a Breakout

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The Russell 2000 just made a new all-time high, matching last week’s records in the SPX, Dow, and Nasdaq. In doing so, it is above this little 1385-1390 range at which it failed 3 times in a row: We can also view those 3 failures as top points of a descending trendline: I’d keep an […]

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T3’s Trades of the Week: Scott Redler on Goldman Sachs (GS)

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Welcome to the latest edition of T3’s Trades of the Week newsletter! Let’s jump right in with this week’s trades and analysis: 1) Scott Redler on Goldman Sachs (GS) GS has been range-bound for almost 2 months. It woke up again last week. If it can hold $239-$241,clearing $244 with authority could take it to […]

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T3’s Take 3: SPX Hits Record Highs… Again

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1) Even More All-Time Highs! The S&P 500, Nasdaq, and Dow Jones Industrial Average all hit record highs today. The Russell 2000 came within 2 points of making its own record Traders are eagerly awaiting details on President Trump’s fiscal policy plans, which will likely include corporate tax cuts and increased infrastructure spending. The S&P […]

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GDXJ: Is Gold Ready to Rock?

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GDXJ tested the key 40 level on the open and is rebounding to its overhead 50 period on the hourly. As you know, 39.50 to 40 represents 180 degrees up from the 27.50 December low. As walked through in this morning’s Morning Call Express video it will be important to see whether the breakout over […]

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Weekly Sentiment Update – Traders Actually Look Bullish!

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Permabulls always say everyone’s bearish. And permabears always say everyone’s bullish. Neither side provides evidence for their views. So let’s see how traders are feeling into today’s inauguration: 1) VIX Spread – Bullish The 3-month VIX spread is at +5, which indicates traders are not concerned with volatility. This is a bullish reading. 2) CNN Fear & […]

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The Intraday Slingshot Strategy: REN

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REN is an energy name that staged a textbook Slingshot Reversal on Wednesday. REN undercut its 20 day line for the first time in two months on Tuesday, 2/7, and followed through initially. However, a Slingshot played out when REN knifed through the gap. The move through the gap was followed by an Opening Range […]

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Forex Scalp Mode

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Given all the economic and political turmoil across the globe, there has been a lot of see-saw type action in the major currencies. From a technical point-of-view, the daily and hourly time frames are fighting against one another. In other words, when one is trying to move up the other is at resistance (or visa versa). […]

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Not Even Trump Can Help Twitter!

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Yesterday after the close, Twitter (TWTR) announced yet another disappointing quarterly earnings report. On the surface, Twitter has the wind at its back. We just had the craziest Presidential election in history, and the most active global news flow I’ve ever seen. Black Lives Matter. Migrant crisis. Syria. The Brexit. Italy’s No Vote. Right wing […]

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T3’s Take 3: Yawns, Yawns, and More Yawns

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1) Stuck in First Gear US markets remain stuck in first gear, unable to break out of the current trading range. The S&P 500 and Nasdaq barely moved today, while the Russell 2000 fell just -0.2%. S&P 500 volatility is still at rock-bottom levels, frustrating traders that expected growing global political uncertainty to drive more […]

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