{"id":4480,"date":"2016-07-27T12:54:27","date_gmt":"2016-07-27T12:54:27","guid":{"rendered":"http:\/\/www.thet3trader.com\/?p=4480"},"modified":"2016-07-27T12:54:27","modified_gmt":"2016-07-27T12:54:27","slug":"scott-redlers-morning-note-fed-dead-ahead","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/","title":{"rendered":"Scott Redler&#8217;s Morning Note: Fed Dead Ahead"},"content":{"rendered":"<p>Editor's Note: This is a special FREE edition of Scott Redler's Morning Note and his extended Morning Call video, which are released at 8:30 a.m. ET each day as part of <span style=\"text-decoration: underline;\"><strong><a href=\"http:\/\/www.t3live.com\/newsletters\/all-access\/\">Redler All-Access<\/a><\/strong><\/span>.<\/p>\n<p><strong>Please call my team now at 1-888-998-3548<\/strong> if you'd like to get Redler All-Access for FREE.<\/p>\n<p>*************<\/p>\n<p><iframe src=\"https:\/\/www.youtube.com\/embed\/FffkDIy14zE\" width=\"560\" height=\"315\" frameborder=\"0\" allowfullscreen=\"allowfullscreen\"><\/iframe><\/p>\n<p>By Scott Redler<\/p>\n<p>We have mixed markets around the world this morning. Europe has positive action with the <strong>DAX<\/strong> +0.9%, <strong>CAC<\/strong> +1.4%, and the <strong>FTSE<\/strong> +0.3%, even with <strong>DB<\/strong> profits plunging 100% year-over-year.<\/p>\n<p>Asia was mixed as the Nikkei rallied 1.7% and the yen dropped on stimulus talks. <strong>Shanghai<\/strong> bucked the trend and is down 1.9% as they might curb some wealth management products. The <strong>Hang Seng<\/strong> rallied +0.4%.<\/p>\n<p>Our markets have been a bit choppy and erratic in this upper area. Strength has been sold and weakness bought as we've tried to figure out if <strong>SPX<\/strong> can hold above the 2155-2159 upper zone. If it continues to hold, we'll see if it can break and close above 2175 after the 2:00 p.m. Fed announcement today. Some think they could be a bit more hawkish.<\/p>\n<p>Oil has been a drag as it slipped from $51 to below $43 with no real bounce. We'll see if today's 10:30 a.m. inventory number can turn it around to help broaden the rally a bit.<\/p>\n<p><strong>USO<\/strong> has yesterday's low at $10.02 to watch for a possible RDR long.<br \/>\n<strong>UWTI<\/strong> has yesterday's low at $20.27.<\/p>\n<p>Tech has acted much better since last week, when we said it can play catch-up to see all-time highs.<\/p>\n<p><strong>QQQ<\/strong> is opening at 2016 highs. See if they can stay above $114.20 to keep momentum.<\/p>\n<p>Small caps had a choppy day but ended at 2016 highs with the <strong>IWM<\/strong> above $120.60. Now see if it extends and holds above yesterday's high of $120.97.<\/p>\n<p>Banks have been flagging since earnings. Maybe a more hawkish tone gets them to clear this recent consolidation.<br \/>\nI'll write down what needs to hold, then pivots to clear to get back on the move.<\/p>\n<p><strong>XLF<\/strong> has support at $23.55 and clearing $23.70 with volume could bring back buyers.<br \/>\n<strong>JPM<\/strong> has to hold $63.50 and clear $64.30 to resolve the flag higher.<br \/>\n<strong>C<\/strong> has to hold $43.80 and clear $44.40 to resolve the flag higher.<\/p>\n<p><strong>BAC<\/strong> started to go yesterday and cleared $14.40. Holding this can get it back towards $15.<\/p>\n<p><strong>MS<\/strong> started to clear its flag yesterday above $29.15 and it has room towards $30-32.<\/p>\n<p><strong>GS<\/strong> has to hold $159.50 and clear $161.50 to try for the 200 day at $164.50.<\/p>\n<p><u>High-beta tech is on the move in separate patterns<\/u>:<\/p>\n<p><strong>NFLX<\/strong> held its post-earnings low\u00a0<span tabindex=\"0\" data-term=\"goog_1189086655\">Monday<\/span>\u00a0and closed well, giving some a clue to be long into yesterday's gap up on the insider buy. Now see if it holds $90.90 as your pivot support.<\/p>\n<p><strong>AMZN<\/strong> has earnings\u00a0<span tabindex=\"0\" data-term=\"goog_1189086656\">Thursday<\/span>. I would avoid it until then. Recent support is $729-733.<\/p>\n<p><strong>GOOGL<\/strong> has numbers\u00a0<span tabindex=\"0\" data-term=\"goog_1189086657\">Thursday<\/span>. It's been holding $750. It might give a trade above $760.50 before it.<\/p>\n<p><strong>TSLA<\/strong> has lots of headlines flowing. Elon Musk talks up its potential, but also about a money raise. It needs to hold $225 to potentially give another trade above $231.39.<\/p>\n<p><strong>MBLY<\/strong> got hit as news came it ended its relationship with <strong>TSLA<\/strong>. But it could strengthen with BMW. It will need some time. It can head into a gap fill if it clears $46.89.<\/p>\n<p><strong>BABA<\/strong> has acted decent since clearing $80.05, but found resistance again at $85. Earnings aren't until next week. See if it can hold $82.60 until then.<\/p>\n<p><strong>NTES<\/strong> woke up\u00a0<span tabindex=\"0\" data-term=\"goog_1189086658\">Monday<\/span>\u00a0and had some follow-through above $201.50 to hit $206 yesterday. There is no setup now.<\/p>\n<p><strong>PCLN<\/strong> is not doing much, but it is flagging after a big move. Support is $1305.<\/p>\n<p><u>Mega caps:<\/u><\/p>\n<p><strong>AAPL<\/strong> had an impressive quarter after sentiment turned very sour. Now maybe with iPhone 7\/7+ on the way, this stock could be more of a tailwind. It cleared $100.50 last night, giving us a good entry. If it can hold this, it could be more of a focus with decent resistance at $103.50-$105. First step is holding the gap up. Then, it needs to break the downtrend.<\/p>\n<p><strong>MSFT<\/strong> still acts well but it\u2019s a little choppy and extended. There is no setup but it\u2019s fine as long as it holds $55.50.<\/p>\n<p><strong>IBM<\/strong> acts fine but it\u2019s also choppy. It needs to hold $161 to stay constructive.<\/p>\n<p><strong>INTC<\/strong> had a nice move back towards the highs after holding the 21 day at $34. There is not much to do now.<\/p>\n<p><u>Social names<\/u>:<\/p>\n<p><strong>FB<\/strong> reports today after the close as it opens at another all-time high. There is not much to do now. It is priced for perfection. If you are an investor, congratulations. Traders should probably wait until after the report. $122 is the recent pivot high.<\/p>\n<p><strong>TWTR<\/strong> still can't put it together. It's down 10%. There is support at $16.20ish. My options will be at $0. I will let dust settle and see how it shapes up today.<\/p>\n<p><u>Other notables<\/u>:<\/p>\n<p><strong>ACIA:<\/strong> after a big move with multiple pivots, it could use a rest. Jim Cramer pumped it last night. I may look for a cute short vs. $65.59.<\/p>\n<p><strong>TWLO<\/strong> is choppy in this tight upper range. It seems like it needs earnings before the next move\u2019s inside range. It has support at $39.50 and resistance at $41.70.<\/p>\n<p><strong>LVS<\/strong> had a gap & go after earnings. I wouldn't chase it now. See if it digests above the earnings gap at $49.27.<\/p>\n<p><strong>WYNN<\/strong> has had a nice move since clearing the $97 pivot. It still has earnings to contend with. $105 offers some resistance.<\/p>\n<p><strong>FCX<\/strong> had a big reversal after earnings. With a bit of time, perhaps it takes out $12.90 to get back towards $14.<\/p>\n<p>Metals are flattish. We have Fed statements today. <strong>GLD\u2019s<\/strong> recent low is $125.11 after a corrective move from $131+. It will need to clear and close above $126.40 to bring in buyers.<\/p>\n<p><strong>TLT:\u00a0<\/strong>I\u2019m not sure if the recent down move priced in a more hawkish Fed. The recent low is $136.98.<\/p>\n<p><strong><u>Today\u2019s Trading Focus<\/u><\/strong><\/p>\n<p>I'm trying to be long for an additional move that has been tough to get. The action has been more stock-specific. I will stay long <strong>SPY<\/strong> and <strong>IWM<\/strong> if they hold support and maybe add if they take out resistance pivots. I bought<strong> AAPL<\/strong> after the print. I'd like to hold it as a swing and add if it holds $100-$101.<\/p>\n<p>I might look for a cute short in <strong>FB <\/strong>as it\u2019s up again pre-earnings. Some profit takers may come in before earnings. I would also like to enter an oil long if it gets a RDR today.<\/p>\n<p><strong>Positions Disclosure:<\/strong> Scott J. Redler is long SPY, IWM, AAPL, JPM, BNSO,<br \/>\nTWTR calls, BABA calls, AMGN calls.<\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-4483\" src=\"http:\/\/www.t3live.com\/blog\/wp-content\/uploads\/2016\/07\/SPY_2016_07_27.png\" alt=\"SPY_2016_07_27\" width=\"700\" height=\"525\" srcset=\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/SPY_2016_07_27.png 700w, https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/SPY_2016_07_27-300x225.png 300w\" sizes=\"(max-width: 700px) 100vw, 700px\" \/><br \/>\n<u><strong>Today's Trading Calendar<\/strong><\/u><\/p>\n<p><strong>US Economics (Time Zone: EDT)<\/strong><\/p>\n<p>07:00 MBA Mortgage Applications (7\/22): prior 1.30%<br \/>\n08:30 Durable Goods Orders (Jun P): exp. 1.40%, prior 2.30%<br \/>\n08:30 Durables Ex Transportation (Jun P): exp. 0.30%, prior 0.30%<br \/>\n08:30 Cap Goods Orders Nondef Ex Air (Jun P): exp. 0.20%, prior 0.40%<br \/>\n08:30 Cap Goods Ship Nondef Ex Air (Jun P): exp. 0.40%, prior 0.50%<br \/>\n10:00 Pending Home Sales MoM (Jun): exp. 1.20%, prior 3.70%<br \/>\n10:00 Pending Home Sales NSA YoY (Jun): exp. 3.00%, prior 2.40%<br \/>\n10:30 DOE U.S. Crude Oil Inventories (7\/22): exp. 2000k, prior 2342k<br \/>\n10:30 DOE Cushing OK Crude Inventory (7\/22): exp. 500k, prior 189k<br \/>\n10:30 DOE U.S. Gasoline Inventories (7\/22): exp. 200k, prior 911k<br \/>\n10:30 DOE U.S. Distillate Inventory (7\/22): exp. 900k, prior 214k<br \/>\n10:30 DOE U.S. Refinery Utilization (7\/22): exp. 0.50%, prior 0.90%<br \/>\n10:30 DOE Crude Oil Implied Demand (7\/22): prior 16963<br \/>\n10:30 DOE Gasoline Implied Demand (7\/22): prior 10180.4<br \/>\n10:30 DOE Distillate Implied Demand (7\/22): prior 5224.6<br \/>\n14:00 FOMC Rate Decision (Upper Bound) (7\/22): exp. 0.50%, prior 0.50%<br \/>\n14:00 FOMC Rate Decision (Lower Bound) (7\/22): exp. 0.25%, prior 0.25%<\/p>\n<p><strong>Global Economics<\/strong><br \/>\n04:00 EUR M3 Money Supply y\/y<br \/>\n04:30 GBP Premlim GDP q\/q<\/p>\n<p><strong>Earnings<\/strong><\/p>\n<p>Before the Open:<\/p>\n<p><strong>Altria Group (MO)<\/strong><br \/>\n<strong>Coca-Cola<\/strong>\u00a0(KO)<br \/>\n<strong>Corning<\/strong>\u00a0(GLW)<br \/>\n<strong>Lumber Liquidators<\/strong>\u00a0(LL)<\/p>\n<p>After the Close:<\/p>\n<p><strong>Amgen\u00a0<\/strong>(AMGN)<br \/>\n<strong>Facebook\u00a0<\/strong>(FB)<br \/>\n<strong>GoPro\u00a0<\/strong>(GPRO)<br \/>\n<strong>Hologic\u00a0<\/strong>(HOLX)<br \/>\n<strong>ServiceNow\u00a0<\/strong>(NOW)<br \/>\n<strong>SolarCity\u00a0<\/strong>(SCTY)<br \/>\n<strong>Wynn Resorts\u00a0<\/strong>(WYNN)<\/p>\n<p>*************<\/p>\n<p>Editor's Note: This is a special FREE edition of Scott Redler's Morning Note, which is released at 8:30 a.m. ET each day as part of <span style=\"text-decoration: underline;\"><strong><a href=\"http:\/\/www.t3live.com\/newsletters\/all-access\/\">Redler All-Access<\/a><\/strong><\/span>.<\/p>\n<p><strong>Please call my team now at 1-888-998-3548<\/strong> if you'd like to try Redler All-Access for FREE.<\/p>\n<p>&nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Editor&#8217;s Note: This is a special FREE edition of Scott Redler&#8217;s Morning Note and his extended Morning Call video, which are released at 8:30 a.m. ET each day as part of Redler All-Access. Please call my team now at 1-888-998-3548 if you&#8217;d like to get Redler All-Access for FREE. ************* By Scott Redler We have mixed markets around the world this morning. Europe has positive action with the DAX +0.9%, CAC +1.4%, and the FTSE +0.3%, even with DB profits plunging 100% year-over-year. Asia was mixed as the Nikkei rallied 1.7% and the yen dropped on stimulus talks. Shanghai bucked the trend and is down 1.9% as they might curb some wealth management products. The Hang Seng rallied +0.4%. Our markets have been a bit choppy and erratic in this upper area. Strength has been sold and weakness bought as we&#8217;ve tried to figure out if SPX can hold above the 2155-2159 upper zone. If it continues to hold, we&#8217;ll see if it can break and close above 2175 after the 2:00 p.m. Fed announcement today. Some think they could be a bit more hawkish. Oil has been a drag as it slipped from $51 to below $43 with no real bounce. We&#8217;ll see if today&#8217;s 10:30 a.m. inventory number can turn it around to help broaden the rally a bit. USO has yesterday&#8217;s low at $10.02 to watch for a possible RDR long. UWTI has yesterday&#8217;s low at $20.27. Tech has acted much better since last week, when we said it can play catch-up to see all-time highs. QQQ is opening at 2016 highs. See if they can stay above $114.20 to keep momentum. Small caps had a choppy day but ended at 2016 highs with the IWM above $120.60. Now see if it extends and holds above yesterday&#8217;s high of $120.97. Banks have been flagging since earnings. Maybe a more hawkish tone gets them to clear this recent consolidation. I&#8217;ll write down what needs to hold, then pivots to clear to get back on the move. XLF has support at $23.55 and clearing $23.70 with volume could bring back buyers. JPM has to hold $63.50 and clear $64.30 to resolve the flag higher. C has to hold $43.80 and clear $44.40 to resolve the flag higher. BAC started to go yesterday and cleared $14.40. Holding this can get it back towards $15. MS started to clear its flag yesterday above $29.15 and it has room towards $30-32. GS has to hold $159.50 and clear $161.50 to try for the 200 day at $164.50. High-beta tech is on the move in separate patterns: NFLX held its post-earnings low\u00a0Monday\u00a0and closed well, giving some a clue to be long into yesterday&#8217;s gap up on the insider buy. Now see if it holds $90.90 as your pivot support. AMZN has earnings\u00a0Thursday. I would avoid it until then. Recent support is $729-733. GOOGL has numbers\u00a0Thursday. It&#8217;s been holding $750. It might give a trade above $760.50 before it. TSLA has lots of headlines flowing. Elon Musk talks up its potential, but also about a money raise. It needs to hold $225 to potentially give another trade above $231.39. MBLY got hit as news came it ended its relationship with TSLA. But it could strengthen with BMW. It will need some time. It can head into a gap fill if it clears $46.89. BABA has acted decent since clearing $80.05, but found resistance again at $85. Earnings aren&#8217;t until next week. See if it can hold $82.60 until then. NTES woke up\u00a0Monday\u00a0and had some follow-through above $201.50 to hit $206 yesterday. There is no setup now. PCLN is not doing much, but it is flagging after a big move. Support is $1305. Mega caps: AAPL had an impressive quarter after sentiment turned very sour. Now maybe with iPhone 7\/7+ on the way, this stock could be more of a tailwind. It cleared $100.50 last night, giving us a good entry. If it can hold this, it could be more of a focus with decent resistance at $103.50-$105. First step is holding the gap up. Then, it needs to break the downtrend. MSFT still acts well but it\u2019s a little choppy and extended. There is no setup but it\u2019s fine as long as it holds $55.50. IBM acts fine but it\u2019s also choppy. It needs to hold $161 to stay constructive. INTC had a nice move back towards the highs after holding the 21 day at $34. There is not much to do now. Social names: FB reports today after the close as it opens at another all-time high. There is not much to do now. It is priced for perfection. If you are an investor, congratulations. Traders should probably wait until after the report. $122 is the recent pivot high. TWTR still can&#8217;t put it together. It&#8217;s down 10%. There is support at $16.20ish. My options will be at $0. I will let dust settle and see how it shapes up today. Other notables: ACIA: after a big move with multiple pivots, it could use a rest. Jim Cramer pumped it last night. I may look for a cute short vs. $65.59. TWLO is choppy in this tight upper range. It seems like it needs earnings before the next move\u2019s inside range. It has support at $39.50 and resistance at $41.70. LVS had a gap &#038; go after earnings. I wouldn&#8217;t chase it now. See if it digests above the earnings gap at $49.27. WYNN has had a nice move since clearing the $97 pivot. It still has earnings to contend with. $105 offers some resistance. FCX had a big reversal after earnings. With a bit of time, perhaps it takes out $12.90 to get back towards $14. Metals are flattish. We have Fed statements today. GLD\u2019s recent low is $125.11 after a corrective move from $131+. It will need to clear and close above $126.40 to bring in buyers. TLT:\u00a0I\u2019m not sure if the recent down move priced in a more hawkish<\/p>\n","protected":false},"author":4,"featured_media":4097,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[87,14,37],"class_list":["post-4480","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-uncategorized","tag-redler-all-access","tag-scottredler","tag-scott-redler-morning-call"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.3 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Scott Redler&#039;s Morning Note: Fed Dead Ahead - T3 Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Scott Redler&#039;s Morning Note: Fed Dead Ahead - T3 Live\" \/>\n<meta property=\"og:description\" content=\"Editor&#039;s Note: This is a special FREE edition of Scott Redler&#039;s Morning Note and his extended Morning Call video, which are released at 8:30 a.m. ET each day as part of Redler All-Access. Please call my team now at 1-888-998-3548 if you&#039;d like to get Redler All-Access for FREE. ************* By Scott Redler We have mixed markets around the world this morning. Europe has positive action with the DAX +0.9%, CAC +1.4%, and the FTSE +0.3%, even with DB profits plunging 100% year-over-year. Asia was mixed as the Nikkei rallied 1.7% and the yen dropped on stimulus talks. Shanghai bucked the trend and is down 1.9% as they might curb some wealth management products. The Hang Seng rallied +0.4%. Our markets have been a bit choppy and erratic in this upper area. Strength has been sold and weakness bought as we&#039;ve tried to figure out if SPX can hold above the 2155-2159 upper zone. If it continues to hold, we&#039;ll see if it can break and close above 2175 after the 2:00 p.m. Fed announcement today. Some think they could be a bit more hawkish. Oil has been a drag as it slipped from $51 to below $43 with no real bounce. We&#039;ll see if today&#039;s 10:30 a.m. inventory number can turn it around to help broaden the rally a bit. USO has yesterday&#039;s low at $10.02 to watch for a possible RDR long. UWTI has yesterday&#039;s low at $20.27. Tech has acted much better since last week, when we said it can play catch-up to see all-time highs. QQQ is opening at 2016 highs. See if they can stay above $114.20 to keep momentum. Small caps had a choppy day but ended at 2016 highs with the IWM above $120.60. Now see if it extends and holds above yesterday&#039;s high of $120.97. Banks have been flagging since earnings. Maybe a more hawkish tone gets them to clear this recent consolidation. I&#039;ll write down what needs to hold, then pivots to clear to get back on the move. XLF has support at $23.55 and clearing $23.70 with volume could bring back buyers. JPM has to hold $63.50 and clear $64.30 to resolve the flag higher. C has to hold $43.80 and clear $44.40 to resolve the flag higher. BAC started to go yesterday and cleared $14.40. Holding this can get it back towards $15. MS started to clear its flag yesterday above $29.15 and it has room towards $30-32. GS has to hold $159.50 and clear $161.50 to try for the 200 day at $164.50. High-beta tech is on the move in separate patterns: NFLX held its post-earnings low\u00a0Monday\u00a0and closed well, giving some a clue to be long into yesterday&#039;s gap up on the insider buy. Now see if it holds $90.90 as your pivot support. AMZN has earnings\u00a0Thursday. I would avoid it until then. Recent support is $729-733. GOOGL has numbers\u00a0Thursday. It&#039;s been holding $750. It might give a trade above $760.50 before it. TSLA has lots of headlines flowing. Elon Musk talks up its potential, but also about a money raise. It needs to hold $225 to potentially give another trade above $231.39. MBLY got hit as news came it ended its relationship with TSLA. But it could strengthen with BMW. It will need some time. It can head into a gap fill if it clears $46.89. BABA has acted decent since clearing $80.05, but found resistance again at $85. Earnings aren&#039;t until next week. See if it can hold $82.60 until then. NTES woke up\u00a0Monday\u00a0and had some follow-through above $201.50 to hit $206 yesterday. There is no setup now. PCLN is not doing much, but it is flagging after a big move. Support is $1305. Mega caps: AAPL had an impressive quarter after sentiment turned very sour. Now maybe with iPhone 7\/7+ on the way, this stock could be more of a tailwind. It cleared $100.50 last night, giving us a good entry. If it can hold this, it could be more of a focus with decent resistance at $103.50-$105. First step is holding the gap up. Then, it needs to break the downtrend. MSFT still acts well but it\u2019s a little choppy and extended. There is no setup but it\u2019s fine as long as it holds $55.50. IBM acts fine but it\u2019s also choppy. It needs to hold $161 to stay constructive. INTC had a nice move back towards the highs after holding the 21 day at $34. There is not much to do now. Social names: FB reports today after the close as it opens at another all-time high. There is not much to do now. It is priced for perfection. If you are an investor, congratulations. Traders should probably wait until after the report. $122 is the recent pivot high. TWTR still can&#039;t put it together. It&#039;s down 10%. There is support at $16.20ish. My options will be at $0. I will let dust settle and see how it shapes up today. Other notables: ACIA: after a big move with multiple pivots, it could use a rest. Jim Cramer pumped it last night. I may look for a cute short vs. $65.59. TWLO is choppy in this tight upper range. It seems like it needs earnings before the next move\u2019s inside range. It has support at $39.50 and resistance at $41.70. LVS had a gap &amp; go after earnings. I wouldn&#039;t chase it now. See if it digests above the earnings gap at $49.27. WYNN has had a nice move since clearing the $97 pivot. It still has earnings to contend with. $105 offers some resistance. FCX had a big reversal after earnings. With a bit of time, perhaps it takes out $12.90 to get back towards $14. Metals are flattish. We have Fed statements today. GLD\u2019s recent low is $125.11 after a corrective move from $131+. It will need to clear and close above $126.40 to bring in buyers. TLT:\u00a0I\u2019m not sure if the recent down move priced in a more hawkish\" \/>\n<meta property=\"og:url\" content=\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\" \/>\n<meta property=\"og:site_name\" content=\"T3 Live\" \/>\n<meta property=\"article:published_time\" content=\"2016-07-27T12:54:27+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/stock-analysis-01.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"516\" \/>\n\t<meta property=\"og:image:height\" content=\"387\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Scott Redler\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Scott Redler\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"7 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\"},\"author\":{\"name\":\"Scott Redler\",\"@id\":\"https:\/\/blog.t3live.com\/#\/schema\/person\/2b821daf1329db4f769229636487712a\"},\"headline\":\"Scott Redler&#8217;s Morning Note: Fed Dead Ahead\",\"datePublished\":\"2016-07-27T12:54:27+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\"},\"wordCount\":1334,\"publisher\":{\"@id\":\"https:\/\/blog.t3live.com\/#organization\"},\"image\":{\"@id\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/stock-analysis-01.jpg\",\"keywords\":[\"redler all access\",\"Scott Redler\",\"scott redler morning call\"],\"articleSection\":[\"Articles\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\",\"url\":\"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/\",\"name\":\"Scott Redler's Morning Note: Fed Dead Ahead - 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T3 Live","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/","og_locale":"en_US","og_type":"article","og_title":"Scott Redler's Morning Note: Fed Dead Ahead - T3 Live","og_description":"Editor's Note: This is a special FREE edition of Scott Redler's Morning Note and his extended Morning Call video, which are released at 8:30 a.m. ET each day as part of Redler All-Access. Please call my team now at 1-888-998-3548 if you'd like to get Redler All-Access for FREE. ************* By Scott Redler We have mixed markets around the world this morning. Europe has positive action with the DAX +0.9%, CAC +1.4%, and the FTSE +0.3%, even with DB profits plunging 100% year-over-year. Asia was mixed as the Nikkei rallied 1.7% and the yen dropped on stimulus talks. Shanghai bucked the trend and is down 1.9% as they might curb some wealth management products. The Hang Seng rallied +0.4%. Our markets have been a bit choppy and erratic in this upper area. Strength has been sold and weakness bought as we've tried to figure out if SPX can hold above the 2155-2159 upper zone. If it continues to hold, we'll see if it can break and close above 2175 after the 2:00 p.m. Fed announcement today. Some think they could be a bit more hawkish. Oil has been a drag as it slipped from $51 to below $43 with no real bounce. We'll see if today's 10:30 a.m. inventory number can turn it around to help broaden the rally a bit. USO has yesterday's low at $10.02 to watch for a possible RDR long. UWTI has yesterday's low at $20.27. Tech has acted much better since last week, when we said it can play catch-up to see all-time highs. QQQ is opening at 2016 highs. See if they can stay above $114.20 to keep momentum. Small caps had a choppy day but ended at 2016 highs with the IWM above $120.60. Now see if it extends and holds above yesterday's high of $120.97. Banks have been flagging since earnings. Maybe a more hawkish tone gets them to clear this recent consolidation. I'll write down what needs to hold, then pivots to clear to get back on the move. XLF has support at $23.55 and clearing $23.70 with volume could bring back buyers. JPM has to hold $63.50 and clear $64.30 to resolve the flag higher. C has to hold $43.80 and clear $44.40 to resolve the flag higher. BAC started to go yesterday and cleared $14.40. Holding this can get it back towards $15. MS started to clear its flag yesterday above $29.15 and it has room towards $30-32. GS has to hold $159.50 and clear $161.50 to try for the 200 day at $164.50. High-beta tech is on the move in separate patterns: NFLX held its post-earnings low\u00a0Monday\u00a0and closed well, giving some a clue to be long into yesterday's gap up on the insider buy. Now see if it holds $90.90 as your pivot support. AMZN has earnings\u00a0Thursday. I would avoid it until then. Recent support is $729-733. GOOGL has numbers\u00a0Thursday. It's been holding $750. It might give a trade above $760.50 before it. TSLA has lots of headlines flowing. Elon Musk talks up its potential, but also about a money raise. It needs to hold $225 to potentially give another trade above $231.39. MBLY got hit as news came it ended its relationship with TSLA. But it could strengthen with BMW. It will need some time. It can head into a gap fill if it clears $46.89. BABA has acted decent since clearing $80.05, but found resistance again at $85. Earnings aren't until next week. See if it can hold $82.60 until then. NTES woke up\u00a0Monday\u00a0and had some follow-through above $201.50 to hit $206 yesterday. There is no setup now. PCLN is not doing much, but it is flagging after a big move. Support is $1305. Mega caps: AAPL had an impressive quarter after sentiment turned very sour. Now maybe with iPhone 7\/7+ on the way, this stock could be more of a tailwind. It cleared $100.50 last night, giving us a good entry. If it can hold this, it could be more of a focus with decent resistance at $103.50-$105. First step is holding the gap up. Then, it needs to break the downtrend. MSFT still acts well but it\u2019s a little choppy and extended. There is no setup but it\u2019s fine as long as it holds $55.50. IBM acts fine but it\u2019s also choppy. It needs to hold $161 to stay constructive. INTC had a nice move back towards the highs after holding the 21 day at $34. There is not much to do now. Social names: FB reports today after the close as it opens at another all-time high. There is not much to do now. It is priced for perfection. If you are an investor, congratulations. Traders should probably wait until after the report. $122 is the recent pivot high. TWTR still can't put it together. It's down 10%. There is support at $16.20ish. My options will be at $0. I will let dust settle and see how it shapes up today. Other notables: ACIA: after a big move with multiple pivots, it could use a rest. Jim Cramer pumped it last night. I may look for a cute short vs. $65.59. TWLO is choppy in this tight upper range. It seems like it needs earnings before the next move\u2019s inside range. It has support at $39.50 and resistance at $41.70. LVS had a gap & go after earnings. I wouldn't chase it now. See if it digests above the earnings gap at $49.27. WYNN has had a nice move since clearing the $97 pivot. It still has earnings to contend with. $105 offers some resistance. FCX had a big reversal after earnings. With a bit of time, perhaps it takes out $12.90 to get back towards $14. Metals are flattish. We have Fed statements today. GLD\u2019s recent low is $125.11 after a corrective move from $131+. It will need to clear and close above $126.40 to bring in buyers. TLT:\u00a0I\u2019m not sure if the recent down move priced in a more hawkish","og_url":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/","og_site_name":"T3 Live","article_published_time":"2016-07-27T12:54:27+00:00","og_image":[{"width":516,"height":387,"url":"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/stock-analysis-01.jpg","type":"image\/jpeg"}],"author":"Scott Redler","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Scott Redler","Est. reading time":"7 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/#article","isPartOf":{"@id":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/"},"author":{"name":"Scott Redler","@id":"https:\/\/blog.t3live.com\/#\/schema\/person\/2b821daf1329db4f769229636487712a"},"headline":"Scott Redler&#8217;s Morning Note: Fed Dead Ahead","datePublished":"2016-07-27T12:54:27+00:00","mainEntityOfPage":{"@id":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/"},"wordCount":1334,"publisher":{"@id":"https:\/\/blog.t3live.com\/#organization"},"image":{"@id":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/#primaryimage"},"thumbnailUrl":"https:\/\/blog.t3live.com\/wp-content\/uploads\/2016\/07\/stock-analysis-01.jpg","keywords":["redler all access","Scott Redler","scott redler morning call"],"articleSection":["Articles"],"inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/","url":"https:\/\/blog.t3live.com\/2016\/07\/27\/scott-redlers-morning-note-fed-dead-ahead\/","name":"Scott Redler's Morning Note: Fed Dead Ahead - 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