{"id":63992,"date":"2022-09-26T08:55:59","date_gmt":"2022-09-26T12:55:59","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=63992"},"modified":"2022-09-26T08:56:32","modified_gmt":"2022-09-26T12:56:32","slug":"scott-redler-oversold-enough","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2022\/09\/26\/scott-redler-oversold-enough\/","title":{"rendered":"Are We Oversold Enough Now?"},"content":{"rendered":"

We have mixed markets around the world as Europe is flattish and Asia is broadly lower. Lots of currency moves are adding pressure to equities. The Fed funds ceiling forecast is now 4.75%, higher than the Dot Plot. Some think the BOE needs to do a pre-meeting hike to calm things down.<\/p>\n

SPX<\/b> futures are -21 and we\u2019ll see if the market is oversold enough to hold the 3636-3647 area this week. The active bearish sequence continues. The hot CPI brought some pressure, and then last Wednesday there was a Red Dog Reversal sell around the $386.25 pivot.<\/p>\n

Can the\u00a0SPY<\/b> hold $362-$363.29 to attempt an oversold bounce? We shall see.<\/p>\n

The Oscillator is -100 so it\u2019s hard to short, but you can't blindly buy either.<\/p>\n

\"\"<\/p>\n

Now let's go through the major tech names I'm watching today:<\/p>\n

AAPL<\/b>\u00a0did a Red Dog Reversal sell on Fed day to get most long out around $158. It hit a low near $148.50 Friday. It will be important over the next day or so. It will be hard for SPY and QQQ to break the June lows if AAPL holds that spot. If it breaks and closes below, the bears will growl.<\/p>\n

TSLA<\/b>\u00a0played downside catch-up fast. It broke $305 and then $290 to lose any upper support. Now see if it can hold the $272 area for a day or so. If not, $265 is support below,<\/p>\n

MSFT<\/b>\u00a0led the tape lower over the past week or so. We\u2019ll see if it can hold $235.20 for a tactical bounce.<\/p>\n

AMZN<\/b>\u00a0is in no man\u2019s land. It\u2019s not special, but it\u2019s not at the lows of the year. $112ish is Friday's low to use for today. Maybe it tries to go red to green.<\/p>\n

Positions Disc<\/strong>losure<\/strong><\/p>\n

\"\"<\/p>\n","protected":false},"excerpt":{"rendered":"

We have mixed markets around the world as Europe is flattish and Asia is broadly lower. Lots of currency moves are adding pressure to equities. The Fed funds ceiling forecast is now 4.75%, higher than the Dot Plot. Some think the BOE needs to do a pre-meeting hike to calm things down. SPX futures are -21 and we\u2019ll see if the market is oversold enough to hold the 3636-3647 area this week. The active bearish sequence continues. The hot CPI brought some pressure, and then last Wednesday there was a Red Dog Reversal sell around the $386.25 pivot. Can the\u00a0SPY hold $362-$363.29 to attempt an oversold bounce? We shall see. The Oscillator is -100 so it\u2019s hard to short, but you can’t blindly buy either. Now let’s go through the major tech names I’m watching today: AAPL\u00a0did a Red Dog Reversal sell on Fed day to get most long out around $158. It hit a low near $148.50 Friday. It will be important over the next day or so. It will be hard for SPY and QQQ to break the June lows if AAPL holds that spot. If it breaks and closes below, the bears will growl. TSLA\u00a0played downside catch-up fast. It broke $305 and then $290 to lose any upper support. Now see if it can hold the $272 area for a day or so. If not, $265 is support below, MSFT\u00a0led the tape lower over the past week or so. We\u2019ll see if it can hold $235.20 for a tactical bounce. AMZN\u00a0is in no man\u2019s land. It\u2019s not special, but it\u2019s not at the lows of the year. $112ish is Friday’s low to use for today. Maybe it tries to go red to green. Positions Disclosure<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[736],"tags":[],"class_list":["post-63992","post","type-post","status-publish","format-standard","hentry","category-scott-redler-dog-bytes"],"_links":{"self":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/63992","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\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/comments?post=63992"}],"version-history":[{"count":2,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/63992\/revisions"}],"predecessor-version":[{"id":63999,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/63992\/revisions\/63999"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=63992"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=63992"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=63992"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}