Jeff Cooper: The Emperor’s New Kimono
The record streak of 110 day days without a 1% or more decline on a closing basis ended on Tuesday. Tuesday’s stab down put a nail in the buying stampede that actually ended with an Exhaustion Gap on March 1. The March 15 Fed Hike Spike put in a lower high with Tuesday’s stiletto lower […]
Continue Reading -->Weekly Sentiment Update: The Bears Are Done Hibernating… and They’re Hungry
Permbulls 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, sentiment went neutral for the second straight week. The big news this week is today’s healthcare vote (well, let’s hope we get it over with it), so let’s see if […]
Continue Reading -->Is the Russell 2000 Shouting Get Out of Dodge?
In mid-Feb we flagged 138 as a key level. 138 is a square-out being 180 degrees up from the Nov low. 138 is also 360 degrees up from the February 2016 low. IWM attempted to breakout over 138 in February 2017…360 degrees/days as it was challenging 360 degrees up in price. That breakout attempt left […]
Continue Reading -->Why SPX 2353 Is the Line in the Sand
Yesterday we got a 2nd close on the SPX at its Holy Grail Line…the 20 day. The first was 3/14 which follows a test and tail at the 20 day on 3/9. Today the index has already traced out an outside down day and is well below its 20 day. It is offsetting the 3/15 Fed Day […]
Continue Reading -->T3’s Take 3: Mr. Market Is Still Telling the Most Boring Story on Earth
1) What a Boring Market Stocks are still in sleep mode, with the S&P 500, Dow Jones Industrial Average, and Nasdaq Composite showing next-to-none movement. The Russell 2000 fell -0.5% to 1384.09, and in today’s low volatility environment, that actually counts as major movement. Traders are still debating just how hawkish the Fed is following […]
Continue Reading -->Snap’s Earnings Date Is an Awfully Valuable Piece of Insider Info…
UPDATE: Snap finally announced May 10 as its earnings date. Click here for more info. Snap Inc. (SNAP) (a.k.a. Snapchat) options have been trading for about a week, so let’s take a deep dive to see what the story is. First things first: Snap options are fairly liquid. The spreads on most contracts are pretty reasonable. […]
Continue Reading -->FREE Preview: Redler All-Access
Welcome to your FREE preview of T3 Live’s Redler All-Access newsletter. Redler All-Access gives you a complete trading plan from T3 Live Chief Strategic Officer Scott Redler, whose technical analysis expertise is frequently sought by CNBC, Fox Business, Bloomberg and more. Below, you’ll read a complete edition of the Redler All-Access Morning Note, which gives thousands of traders […]
Continue Reading -->Why the US Dollar Is Vulnerable, and What It Means for Gold
The ‘Dutch Trump’ populist lost his bid to become Prime Minister last week. This may have elicited strength in the euro and selling in the dolloar. A daily dollar shows it broke its 50 day line with authority triggering my Expansion pivot sell signal in the process. In so doing the dollar also triggered a […]
Continue Reading -->T3’s Take 3: The Go-Nowhere Market Is Still Going Nowhere
1) Another Day, Another Yawn I was really hoping that the Fed rate announcement and Dutch elections this week would spur some actual, real-life, lasting volatility. But following Wednesday’s post-Fed power rally, the market went right back into snooze mode. The S&P 500 fell -0.1% to 2378.25, with the Nasdaq flat. The Russell 2000 showed a […]
Continue Reading -->Mr. Cooper Has Set the Price, and It’s 2370
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 […]
Continue Reading -->