2024-09-10

Scott Redler’s daily video recap for September 10, 2024, offered another insightful glimpse into the day’s market movements and key insights for traders. Redler, the chief strategic officer at T3live.com, discusses the importance of understanding market levels and how traders can navigate another seemingly choppy day on the stock markets.

Exploring Market Dynamics and Trader Strategies

Scott Redler’s video begins with an analysis of recent market activity, emphasizing the oscillating nature of the current trading environment. He describes the market conditions as choppy, a recurring theme that highlights the necessity of playing the ranges and staying aware of critical market levels.

Market Recap and Analysis

Redler provides a succinct overview of the day’s market performance, noting key movements and trader actions. He focused on the major indices and their performance, including the S&P 500 and NASDAQ, elaborating on specific stocks and sectors that have shown significant activity.

Indices and Major Stocks Performance

Redler points out the resilience of the stock market despite the volatility. He talks about the day’s trading starting strong with indices like the S&P 500 briefly surpassing recent highs, only to retract and test lower levels as the day progressed. This pattern presented both challenges and opportunities for traders. Notably, he discusses the performance of tech stocks, represented by the NASDAQ, which showed a trend of making higher lows—a bullish signal for some traders.

Sector-Specific Movements

In his recap, Redler touches on various sectors, from technology to biotech, and their impact on the day’s trading dynamics. He notes the challenges faced by the banking sector, which experienced more significant downturns, affecting overall market sentiment. Conversely, he highlights the biotech sector, showing more resilience and potentially offering safe-haven opportunities for investors amidst broader market turbulence.

Trading Insights and Strategy

One of the core themes of Redler’s recap is the strategic approach to trading in such unpredictable conditions. He emphasizes the importance of knowing when to enter and exit positions, identifying pivot areas, and adjusting strategies when market expectations do not unfold as anticipated.

Entry and Exit Strategies

Redler discusses how traders can identify optimal points to enter or exit trades based on the day’s trading patterns. He underscores the importance of adapting to market movements and not clinging rigidly to one’s initial thesis. This adaptability can be seen in his analysis of the NASDAQ’s performance, where he adjusted his position based on the unexpected strength in tech stocks.

Dealing with Volatility

The fluctuating market conditions have necessitated an emphasis on handling volatility smartly. Redler advises on maintaining a balanced portfolio and being ready to modify positions swiftly to mitigate losses and capitalize on sudden market movements.

Forward-Looking Commentary

Looking ahead, Redler discusses potential market catalysts such as upcoming economic data releases and geopolitical events that could influence market direction. He speculates on how factors like CPI data might affect trader sentiment and market trends in the following days. His forward-looking statements provide a roadmap for traders trying to anticipate market movements and prepare their strategies accordingly.

Conclusion and Risk Management

In conclusion, Scott Redler reminds traders about the importance of risk management. He stresses the need for traders to be clear about their risk tolerance levels and to have strategies in place for quickly adjusting to changing market conditions.

Redler’s daily recap for September 10, 2024, not only provides a summary of the day’s market movements but also serves as a crucial briefing on how dynamic trading strategies can be implemented effectively in a volatile environment. His insights are particularly valuable for traders looking to refine their approaches and navigate the complexities of the stock market confidently.

Watch this video below for more info:

Scott Redler Daily Recap – September 10, 2024



2024-09-10 20:24:31
https://www.t3live.com/scott-gap-ebook-yt to get Scott Redler’s new gap trading ebook. Includes case studies on trading Microosft, Netflix, Shopify, Tesla, and Meta with stock and options.

Video transcript:
is 4:12 it is September 10th hope everyone is feeling well definitely another choppy day but I feel like I’m always saying it’s a choppy day that’s why you got to know your levels play the ranges and figure things out anyway take a look at the disclosure let’s get to it there it is let’s go my name is Red Dog Scott Ry the chief strategic officer of T3 live.com welcome to today’s recap look atad so as you look at the charts now you’re like ah look at that a little constructive day which is true why is it constructive well this was uh if you’re depends what side of the you know the the fence you sit on you had a big down day on Friday a little inside day on Monday and then today we held above Monday’s low and took out Monday’s high and kind of feels like there’s a little room above maybe 5160 maybe here maybe just the moving averages but all in all you know today there’s a lot of back and forth I know I came in with a bunch of position I and sold them really well and then the rest of the day was hard the rest it kind of felt like we were ready to fail and we just didn’t so you know if you feel like you didn’t buy a dip and you were out of things it’s fine if you shorted a rally though you’re like H that wasn’t so much fun if you look here at the spies look what happened here on the spies you know spies this was this made some sense it opened up above a prior High couldn’t hold it so if you get out of long so I got it short a little bit here you know took it off came back retest tested this spot then just fell off a cliff making it feel like we were cooked went below yesterday afternoon you know pivot area went above yesterday’s low and then from here didn’t stop right back even over the highs it’s a little erratic I’ll be honest the q’s did the same thing the q’s well at least you could say the q’s made a low after a higher low and a higher low so here’s your low higher low higher low and then at the end of the day took this out so to me me the q’s kind of look best going into tomorrow but we’ll see um if it was going to be any any bearish and and get you know rejected it should never got back above here so when something happens that shouldn’t happen that’s against your thesis you have to adjust like if you said hey look at the size of this move I’m going to short it bounce and it starts getting above this either you’re going to roll it up or you’re going to get the hell out of the way you know that’s what you got to decide you know when it’s happening iwm was tricky too iwm I got involved a little early um and then uh came in I bought a little bit more and then I trimmed some and I have some going to tomorrow not so excited about the iwm but I figured hey if the CPI is light maybe there’s a trade up towards 213 is don’t think we going to 215 or 217 or 221 but 213 is then at the end of the day I bought a little xbi also because it kind of looks a little bit a little bit even more healthy and it doesn’t have all the banks I made some crazy moves today yeah the the banks were the source of weakness but this looks tight so what’s this this is 100 maybe it gets back to there if it wants to look what happened to the banks today really beat up you know they’ve been a source of strength came out with some kind of information about there not going to pretend like I want to say the name of it but uh got above 218 couldn’t hold it got below 214 211 went as low as what 200. 61 then bounced a little bit which which helped the market but wasn’t an easy bounce what’s framp saying framp is saying looks like a bunch of calls being board let’s see this is the Alpha Team talking everyone into the close with a wild mess of buying AC course February 117 118 all right so somebody made a big bet on uh Nvidia in the next year makes some sense anyway so pretty big bearish candle what Goldman do did Goldman bounce at all broke below this see if it stays below this moving forward 477 that changed that trade just like that so looking at high beta Tech if I were to give you a pecking order I would say Amazon looks best now it does even though it’s been kind of crazy and hard got Above This 178 179 has some room has a gap protected it showed relative strength that looks pretty good test I wanted to take I just didn’t where is it now you know you kind of turned up took out prior High had some room negated the strength of this candle Wass pretty good but you can have you know Trump tonight and Trump and Elon are like so Trump’s got to do well for Elon I guess we’ll see but this is uh 235 there’s definitely some room here closing the highs so those are you know Apple like like I said before um you know Apple they tried to sell the event they could have couldn’t they had the EU fine of 14 billion it didn’t sell so maybe that means it wants to go higher so I’m in a little bit we’ll see anyway so hope a lot of people use a lot of different bullish flows and whatnot thiss I sold some puts yesterday sold a little bit more new point of reference it was down a bunch some point technically gets better I’ll buy the stock besides just selling puts that I’m trying to give myself some space without having to be perfect um you know there is a launch on Thursday so you know just there’s risk so make sure you know what your risk is p tier I got out of had a really good trade in P tier early on too not a really good trade but was down 50 cents bought and made some money sold it sold some my options and now we’ll see if it lets this kind of catch up come come up a little bit there was some news the co was selling stock and at that point the market was down I’m like H I’m done with this for now so we’ll see what gold do today Gold’s looking kind of had of let put in some time up here since August 15th almost a month if it gets Above This 234 it can go Bitcoin acted a little bit better today got above this little spot has some room if it wants to tomorrow so all in all you know the Market’s trying to go a little bit from NE negative to like neutral to Tiny positive right now went from negative like got to be really negative on Friday to little neutral and today made you a little bit more neutral to positive but doesn’t mean you have to be really positive it just means yeah you know some buyers came in some things look better and we’ll see where we are tomorrow you know we have a lot of uh you have the debate tonight and you have also the CPI in the morning so we’ll see it seems like you know you drive by some some gas stations gas is like 310 or less than three so it’s coming in you know so you would think a light CPI would’ get a knee-jerk reaction to the upside because maybe we go from 25 BPS to 50 or it’s that light and like oo growth scale let’s just go down so we’ll see so it’s it’s it’s not it’s not ritten in stone nothing ever is in the market you just have to quantify your risk and if you do that you can do this for a long time and if you’re wrong get out all right guys I appreciate you see you in the morning