{"id":66563,"date":"2023-03-06T09:35:53","date_gmt":"2023-03-06T14:35:53","guid":{"rendered":"https:\/\/blog.t3live.com\/?p=66563"},"modified":"2023-03-06T09:40:49","modified_gmt":"2023-03-06T14:40:49","slug":"scott-redler-spy-398","status":"publish","type":"post","link":"https:\/\/blog.t3live.com\/2023\/03\/06\/scott-redler-spy-398\/","title":{"rendered":"Why SPY $398 Matters Now"},"content":{"rendered":"

SPX<\/b>\u00a0futures are flattish after a big two-day move. The index did a Red Dog Reversal buy when it reclaimed 3939 and had power Friday to see 4048. I'd think we have a bit of digestion into Powell Tuesday, JOLTs numbers on Wednesday, and NFP Friday. Holding 3990-4010ish shows some commitment.<\/p>\n

SPY<\/b>\u00a0reclaimed $393.38 Thursday and had power to see $404.45 Friday. This morning it's down small. Holding $402ish would be impressive to show high-level digestion. The active bulls need to hold $398ish this week to keep commitment to late last week.<\/p>\n

QQQ<\/b>\u00a0did a Red Dog Reversal buy as it reclaimed $290 Thursday to see $299.92 on Friday.\u00a0AAPL\u2019s<\/b>\u00a0upgrade by\u00a0GS<\/b>\u00a0helps.<\/p>\n

It should be an interesting week as we see if the active bulls can keep the ball.<\/p>\n

Now let's dig into some individual names.<\/p>\n

AAPL<\/b>\u00a0did a Red Dog Reversal buy Thursday.\u00a0MS<\/b>\u00a0made it a top pick Friday. It hit a high of $151.11. This weekend\u00a0GS<\/b> upgraded it with a $199 target. I'd trim into strength, but it will be a focus. It will be hard for SPX to be so weak if this acts well. I\u2019d trim and see if it builds or fades.<\/p>\n

TSLA<\/b>\u00a0made a low after its event at $186 and had a nice two-day move to $200.48. It might need to digest a bit. Holding $193.75 keeps it constructive. There is news they had to cut some prices again. We'll see how it reacts.<\/p>\n

META<\/b>\u00a0is one of the better-acting stocks for now. Some are long vs. the $167.66 pivot. On Friday it hit $186+. I'm going to try and stay long. If the market holds in, this should see a move above the post-earnings high at $197+ in time.<\/p>\n

MSFT<\/b> finally had a strong candle Thursday and then it hit a high of $255.62 Friday. It has some room to move, but it\u2019s not special.<\/p>\n

Scott Redler's positions disclosure as of 2023-03-06 at 7.24.55 AM<\/em><\/p>\n

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

SPX\u00a0futures are flattish after a big two-day move. The index did a Red Dog Reversal buy when it reclaimed 3939 and had power Friday to see 4048. I’d think we have a bit of digestion into Powell Tuesday, JOLTs numbers on Wednesday, and NFP Friday. Holding 3990-4010ish shows some commitment. SPY\u00a0reclaimed $393.38 Thursday and had power to see $404.45 Friday. This morning it’s down small. Holding $402ish would be impressive to show high-level digestion. The active bulls need to hold $398ish this week to keep commitment to late last week. QQQ\u00a0did a Red Dog Reversal buy as it reclaimed $290 Thursday to see $299.92 on Friday.\u00a0AAPL\u2019s\u00a0upgrade by\u00a0GS\u00a0helps. It should be an interesting week as we see if the active bulls can keep the ball. Now let’s dig into some individual names. AAPL\u00a0did a Red Dog Reversal buy Thursday.\u00a0MS\u00a0made it a top pick Friday. It hit a high of $151.11. This weekend\u00a0GS upgraded it with a $199 target. I’d trim into strength, but it will be a focus. It will be hard for SPX to be so weak if this acts well. I\u2019d trim and see if it builds or fades. TSLA\u00a0made a low after its event at $186 and had a nice two-day move to $200.48. It might need to digest a bit. Holding $193.75 keeps it constructive. There is news they had to cut some prices again. We’ll see how it reacts. META\u00a0is one of the better-acting stocks for now. Some are long vs. the $167.66 pivot. On Friday it hit $186+. I’m going to try and stay long. If the market holds in, this should see a move above the post-earnings high at $197+ in time. MSFT finally had a strong candle Thursday and then it hit a high of $255.62 Friday. It has some room to move, but it\u2019s not special. Scott Redler’s positions disclosure as of 2023-03-06 at 7.24.55 AM<\/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-66563","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\/66563","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=66563"}],"version-history":[{"count":3,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66563\/revisions"}],"predecessor-version":[{"id":66570,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/posts\/66563\/revisions\/66570"}],"wp:attachment":[{"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/media?parent=66563"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/categories?post=66563"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/blog.t3live.com\/wp-json\/wp\/v2\/tags?post=66563"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}