All posts by Scott Redler
Tesla $242 Is the Level to Watch
SPX futures are up 10 points after we kissed 4322 last Friday and pulled back a bit. I will see how we consolidate ahead of the CPI on Tuesday and FOMC on Wednesday. The active sequence from March was led by tech and started to broaden out a bit. Headlines this weekend talked about a “New […]
Continue Reading -->Why $183 Matters for Apple
SPY held the 8 day last week and Thursday. I bought some $421 calls for another breakout. SPY hit $428.74 and I took off half for ~75%. I’ll trim the rest because they expire today. If we pull back a bit, I may add higher strikes. $431.73 is the high from last August. QQQ: tech […]
Continue Reading -->5 AI Stocks to Watch This Week
SPX futures are +22, giving upside follow through to Friday’s move above the 4160-4180 area with a close above 4200. It seems like we can reach the 4325 high from last August. But take trades along the way. We’ve had many nice setups the past few weeks because we focused on setups instead of calling […]
Continue Reading -->Micron Banned in China – So I’m Watching These Levels
SPY cleared $412.87 to see $420.72 Friday. We did well trading for that. Now we’ll see how it tries to digest above $417.35 or if it hits $415 which must hold. QQQ: tech will get tested today after China banned MU memory chips. See how this affects other semi names like AMD and NVDA. See how AAPL handles the early morning weakness. $335.43 […]
Continue Reading -->7 Tech Names to Watch This Week
SPY keeps playing with levels. Last week it couldn’t build on strength and sellers couldn’t keep it below levels. We’ll see how this week starts. $413.64 is Friday’s high. See if it gets and stays above. $414.54 is above. The bears can’t growl so loud this week unless we get a hard close below $408.64. QQQ’s hit […]
Continue Reading -->Key ETF Levels This Week
We have mixed markets around the world with a slight positive feel. Friday’s solid jobs report quieted the recession debate. AAPL’s solid report with the tech action also helped the indices reclaim the 8/21 day moving averages again. We have the CPI and PPI this week. There’s some concern that they will stay elevated but that […]
Continue Reading -->It’s a Big Week
Most regions around the world are closed for May Day. FRC shareholders are getting wiped out as JPM and the FDIC pick up the pieces. The FOMC is this Wednesday. Last week, the bears broke the SPX below 4089 but could only keep it below for a day. On Friday, it cleared 4138 to see 4170. Big moves […]
Continue Reading -->Tech Earnings Time
We have small red arrows around the world as we head into the busiest week of earnings. The SPX was in the same spot 2 years ago and at the start of 2023. The year of the range that is squeezing out the excess of 2020. The Recession that’s been predicted for 9 months still […]
Continue Reading -->A Big Earnings Week
We have mostly green arrows around the world as we get ready for earnings season to continue. JPM kicked it off with a strong move Friday. SPX is above the 8 day and as long as it holds the 4102 area, it’s hard to get too bearish. 4163 is the recent high. 4195 is the February high. Know […]
Continue Reading -->5 Tech Names to Watch
SPX futures are -14ish as we see if Friday’s lows hold. Bank earnings are on Friday. Tech has been the place to be and we’ll see if that continues. On Friday, the index held the 8 day, giving us 4069 to be long against. We can’t get too bearish if that holds. 4133 is pivot resistance. […]
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