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Scott Redler’s Dog Bytes: Tactical Trading in Tech

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SPX futures were down big but are off the lows on news that Russia-Ukraine could have a diplomatic outcome.

Last week they sold the CPI report. On Friday, there were ways to adjust as 4515 was rejected and 4484 was broken. For two weeks I’ve discussed the possible head & shoulders. Now we’ll see if we hold above the neckline. Reclaiming 4401 would relieve some pressure today. But I think we will test 4220 in the weeks to come. For today we’ll see if 4455-4500 gets rejected.

TSLA: last Thursday I pointed out how it wasn’t leading, which was a reason to be cautious. Some got short when it broke $920 or $895. I avoided it. It's getting some downside follow-through this morning. Perhaps there is a tactical long vs. a 5-15-30 minute low. $829 is support and then $792 is the low. If it reclaims $850.70, it might relieve some pressure.

AAPL: many active longs got stopped out at $174.90 or $170. This morning we'll see if there is tactical long vs. a 5-15-30 minute low for cash flow. See if it reclaims Friday's low of $168.04.

MSFT gave clues the sellers can take control again as $307 broke. That got confirmed below $299 Friday. We will be tactical each day here. Maybe there is a scalp long vs. a 5-15-30 minute low. $294.22 is Friday's low.

GOOGL failed to hold $3018 and filled its post-earnings gap in four days. It’s not special. But there are tactical trades. On Friday, it hit a low of $2668. We'll see if it holds the January lows or if it gives a tactical bounce vs. a 5-15-30 minute low.

Positions Disclosure as of 2/14/2022 at 9:03 a.m. ET

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