{"id":5694,"date":"2016-09-19T16:24:44","date_gmt":"2016-09-19T20:24:44","guid":{"rendered":"http:\/\/www.thet3trader.com\/?p=5694"},"modified":"2016-09-19T16:24:44","modified_gmt":"2016-09-19T20:24:44","slug":"t3s-take-3-stocks-hit-the-snooze-button-ahead-of-a-very-big-wednesday","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2016\/09\/19\/t3s-take-3-stocks-hit-the-snooze-button-ahead-of-a-very-big-wednesday\/","title":{"rendered":"T3’s Take 3: Stocks Hit the Snooze Button Ahead of a Very Big Wednesday"},"content":{"rendered":"

Prop Trading May Not Be Right For You\u2026<\/strong><\/p>\n

But it has incredible financial benefits for many traders.<\/p>\n

Click here to learn more\u2026<\/a><\/strong><\/p>\n

1) Holding Pattern Ahead of a Very Big Wednesday<\/strong><\/p>\n

Last week, we saw a rebound in volatility as traders put the summer snoozefest behind them.<\/p>\n

But stocks quieted back down today ahead of Wednesday\u2019s big Federal Reserve and Bank of Japan meetings.<\/p>\n

The S&P 500<\/strong> was flat 2139.12.<\/p>\n

The Nasdaq<\/strong> underperformed due to weakness in select large-cap tech names like Apple<\/strong> (AAPL) and Amazon.com<\/strong> (AMZN).<\/p>\n

The Russell 2000<\/strong> was an outlier to the upside with a 0.6% gain, and we also saw nice gains in utilities, real estates, financials, and transports.<\/p>\n

US Treasuries, retailers, and pharmaceutical names led the decliners\u2019 column.<\/p>\n

2) Watch the SPX 2147-2148 Pivot\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 <\/strong><\/p>\n

This morning, T3\u2019s Jeff Cooper<\/a><\/strong> highlighted key levels to watch going forward:<\/p>\n

2147\/2148 is a key level on the SPX<\/strong>.<\/p>\n

A) It was the August low of the long summer Slim Jim. Consequently it is the Monthly Swing Pivot—where the monthlies tuned down In September on trade below the August low.<\/p>\n

B) It ties to a 50% retrace from the 2193 all-time high to the 9\/12 2118 low.<\/p>\n

Interestingly, on the Square of 9 Time & Price Calculator, 2148 also points to\/aligns with September 21 and the important Gann Autumnal Equinox.<\/p>\n

Of course, this is also the date of the big Fed announcement on interest rates.<\/p>\n

You can't make this stuff up!<\/p>\n

3) Be Very, Very Careful Shorting Biotech<\/strong><\/p>\n

This morning, <\/strong>Sarepta Therapeutics<\/strong>\u00a0<\/strong>(SRPT) received FDA approval for Eteplirsen, a treatment for Duchenne muscular dystrophy.<\/p>\n

The stock hit a circuit breaker, reopened, and skyrocketed to finish up 74% on the day.<\/p>\n

Eteplirsen is considered to be a controversial drug, so many traders \u2013 especially shorts \u2013 were shocked by the news.<\/p>\n

Over 33% of the float was sold short, which means some folks were put out of business.<\/p>\n

So please folks, be very, very careful shorting biotech.<\/p>\n

P.S. Don\u2019t forget to sign up for our next prop trading event<\/a>!<\/p>\n

Tuesday\u2019s Trading Calendar<\/u><\/strong><\/p>\n

US Economics (Time Zone: EDT)<\/u><\/strong><\/p>\n

08:30 Housing Starts (Aug): exp. 1190k, prior 1211k
\n08:30 Housing Starts MoM (Aug): exp. -1.70%, prior 2.10%
\n08:30 Building Permits (Aug): exp. 1165k, prior 1152k
\n08:30 Building Permits MoM (Aug): exp. 1.80%, prior -0.10%<\/p>\n

Global Economics<\/u><\/strong><\/p>\n

12:50 CAD BOC Gov Poloz Speaks
\nTentative JPY Monetary Policy Statement<\/p>\n

Earnings<\/u><\/strong><\/p>\n

Before Open:<\/p>\n

Carnival Corp\u00a0<\/strong>(CCL)
\nLennar Corp\u00a0<\/strong>(LEN)<\/p>\n

After Close:<\/p>\n

Adobe Systems (ADBE)<\/strong>
\nCopart<\/strong>\u00a0(CPRT)
\nFedEx Corp<\/strong>\u00a0(FDX)
\nKB Home<\/strong>\u00a0(KBH)<\/p>\n","protected":false},"excerpt":{"rendered":"

Prop Trading May Not Be Right For You\u2026 But it has incredible financial benefits for many traders. Click here to learn more\u2026 1) Holding Pattern Ahead of a Very Big Wednesday Last week, we saw a rebound in volatility as traders put the summer snoozefest behind them. But stocks quieted back down today ahead of Wednesday\u2019s big Federal Reserve and Bank of Japan meetings. The S&P 500 was flat 2139.12. The Nasdaq underperformed due to weakness in select large-cap tech names like Apple (AAPL) and Amazon.com (AMZN). The Russell 2000 was an outlier to the upside with a 0.6% gain, and we also saw nice gains in utilities, real estates, financials, and transports. US Treasuries, retailers, and pharmaceutical names led the decliners\u2019 column. 2) Watch the SPX 2147-2148 Pivot\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 This morning, T3\u2019s Jeff Cooper highlighted key levels to watch going forward: 2147\/2148 is a key level on the SPX. A) It was the August low of the long summer Slim Jim. Consequently it is the Monthly Swing Pivot—where the monthlies tuned down In September on trade below the August low. B) It ties to a 50% retrace from the 2193 all-time high to the 9\/12 2118 low. Interestingly, on the Square of 9 Time & Price Calculator, 2148 also points to\/aligns with September 21 and the important Gann Autumnal Equinox. Of course, this is also the date of the big Fed announcement on interest rates. You can’t make this stuff up! 3) Be Very, Very Careful Shorting Biotech This morning, Sarepta Therapeutics\u00a0(SRPT) received FDA approval for Eteplirsen, a treatment for Duchenne muscular dystrophy. The stock hit a circuit breaker, reopened, and skyrocketed to finish up 74% on the day. Eteplirsen is considered to be a controversial drug, so many traders \u2013 especially shorts \u2013 were shocked by the news. Over 33% of the float was sold short, which means some folks were put out of business. So please folks, be very, very careful shorting biotech. P.S. Don\u2019t forget to sign up for our next prop trading event! Tuesday\u2019s Trading Calendar US Economics (Time Zone: EDT) 08:30 Housing Starts (Aug): exp. 1190k, prior 1211k 08:30 Housing Starts MoM (Aug): exp. -1.70%, prior 2.10% 08:30 Building Permits (Aug): exp. 1165k, prior 1152k 08:30 Building Permits MoM (Aug): exp. 1.80%, prior -0.10% Global Economics 12:50 CAD BOC Gov Poloz Speaks Tentative JPY Monetary Policy Statement Earnings Before Open: Carnival Corp\u00a0(CCL) Lennar Corp\u00a0(LEN) After Close: Adobe Systems (ADBE) Copart\u00a0(CPRT) FedEx Corp\u00a0(FDX) KB Home\u00a0(KBH)<\/p>\n","protected":false},"author":3,"featured_media":4095,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,1],"tags":[164,293,294,8],"class_list":["post-5694","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-articles","category-uncategorized","tag-biotech","tag-sarepta-therapeutics","tag-srpt","tag-stocks"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5694","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=5694"}],"version-history":[{"count":0,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/5694\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media\/4095"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=5694"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=5694"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=5694"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}