Date: 2024-12-21

Mastering Moving Averages for Trend Analysis: Insights from Scott Redler & TrendSpider

In the dynamic world of trading, mastering the art of trend analysis is vital. The recent webinar featuring Scott Redler and Jason Kutzky from TrendSpider provided a wealth of insights into how traders can leverage moving averages to enhance their trading strategies. Below is an in-depth look at the key takeaways from their discussion.

Understanding Moving Averages

The Role of Moving Averages:
Scott Redler emphasized that moving averages are crucial as they provide clear points of reference and help traders define their risk. They are the backbone of his trading strategy, helping him decipher market sentiments and overall trend strength.

Selective Moving Averages Used:
Redler prefers using specific moving averages – the 8, 21, 50, and 200-day moving averages. He explains that the choice of moving average depends on how active a trader is. For instance, the 8-day moving average is suitable for those who trade actively and is reflective of a very strong market where every dip is buyable. Conversely, the 21-day moving average suits those who might not necessarily trade daily but wish to capture broader market movements.

Moving Averages in Action:
Utilization of moving averages was thoroughly discussed with real examples from recent market activities. Redler explained that following these averages helps traders ignore noise from daily news cycles and focus more on what the market’s price action is indicating.

Integrating TrendSpider for Enhanced Analysis

Jason Kutzky showcased how TrendSpider can be used to automate the analysis of moving averages. He explained the platform’s ability to create alerts based on specific moving average interactions, such as price crossovers with the 8 or 21-day moving averages. These tools are fundamental for traders who wish to capture every potential trading opportunity without having to monitor charts all day.

Practical Examples and Strategies

During the webinar, various strategies were discussed, including:

• The Portfolio Approach: Redler discussed maintaining multiple accounts and strategies, adjusting his exposure based on the prevailing market condition dictated by the moving averages.
• The Tactical Approach: Used when the market shows signs of volatility or unpredictability, involving reducing position sizes and focusing more on short-term trades.

Redler shared specific episodes from the trading week, illustrating how moving averages guided his decisions during periods of high volatility and market dips.

Additional Resources

For those looking to delve deeper into these strategies, Redler recommended additional tools and settings on TrendSpider, which help automate tasks and improve efficiency. The webinar concluded with an open Q&A session, during which viewers could interact directly with Scott Redler and Jason Kutzky, asking specific questions to better understand how to apply these tools and strategies in their own trading.

Conclusion

This valuable session with Scott Redler and TrendSpider’s Jason Kutzky offered both novice and experienced traders insights into the practical uses of moving averages for trend analysis. By incorporating these techniques, along with tools like TrendSpider, traders can enhance their ability to navigate the markets more effectively. Moving averages, when used correctly, are not just technical indicators but robust tools that help clarify market dynamics and trader positioning for optimal outcomes.

Watch this video below for more info:

Moving Averages for Trend Analysis 101: With Scott Redler & TrendSpider



2024-12-21 08:36:21
Get Scott’s FREE #tradingnewsletter: http://t3live.com/db

Scott Redler shows you his powerful moving averages strategies which he uses in his #stocktrading to:

-Find winning stocks and ETF’s
-Figure out how long (or short) he wants to be
-Avoid the worst of the worst names
-Detect which news matters, and which doesn’t
-Keep emotion in check

And MORE!

T3 Live Disclosures: https://t3live.com/disclosures

Video transcript:
[Music] welcome everybody I’m here with my best friend in the world Scott redler and today we have a special guest Jason kutzky from Trend spider and we’re here to talk about about our favorite Topic in the entire universe which of course is and we are you know this is the first time we’ve done an event with Tren spider uh we see they have a big crowd coming in right now we’re hoping to get like five 10,000 people live on this event so thank you everybody for joining us so Scott how are you doing today I’m doing great I’m doing great what a busy day like all of a sudden you know we’ve had a volatile week we had the fed this week we had a little change of character in the stock market market and then all of a sudden you you walk in this morning the Market’s under pressure and you’re like ah this is a great setup if you sold earlier in the week you could buy some things back the PC happens it’s light they start coming after stuff and if you were active and ready to go there was a there was a lot of money to be made you know today especially if you reduce risk earlier in the week okay Jason how you doing yeah man I’m doing well same kind of same feeling as Scott pretty uh not super surprised by the move that we saw Tuesday Wednesday kind of had a feeling that might something like that might be coming maybe not the severity that it hit at but really surprised by the move today this has been a pretty a pretty wild day um excited to really excited to hear Scott Reed and and kind of talk shop with him okay awesome so we do have um a big crowd from Trend spider so we just want to int introduce you guys to Scott so Scott is the co-founder of T3 companies which um includes T3 Trading Group T3 live you might have seen him on TV on CNBC Bloomberg he’s on Fox Business all the time and he just crossed the 200 281,000 mark on Twitter um I’m sure a lot of you guys know Scott from Twitter you’ve probably seen him on TV look that’s young baby red dog on the bottom right there uh Business Insider said Scott is one of the 22 biggest poker players on Wall Street and if it’s in Business Insider it must be true can we talk about that for a second sure of course I don’t even know how that happened in my all my my I have a sophomore in high school you know and he’s uh him and his friends love to play poker and they found that article and they’re like Chase didn’t didn’t you didn’t tell me your dad is the one of the best poker players on Wall Street he’s like I had no idea he’s one of the best poker players on Wall Street and I’m pretty good you know I I did an article about just probabilities I did articles saying like I hate casinos I hate gambling and they’re like wait you’re you’re a stock market participant you’re involved in the markets what do you mean you hate gambling I’m like well I don’t like going into situations where I have no um no Edge I’m like the only thing that I feel like you have edges if you play Texas Hold them at least you have the right to like say hey I’m in or I’m out this is a good hand this is a bad hand you know I could match the Blind and bet and there’s some strategy you know when when you go and play roulette your money down he spinning the wheel you know who who wants to do that for you know for a living or consistency who who can even in blackjack it’s like you put your money down before your cards come so at least in poker I was like you know in poker it’s a little bit like trading it’s very strategic you have to have patience you have to wait your turn um you could stay in um you know what a good hand looks like you know what the probabilities are so I’m like I think in poker it’s it’s a much more um reliable um uh just even not even a tool just so kind of just a little bit more similar to to trading versus gambling in a casino where you have no Edge I’m like I hate gambling I’d rather trade at least I can pick and choose my hands and I could pick and choose how much I want to put behind an idea based on the probabilities and like that’s kind of like poker and then all of a sudden I’m I’m I’m just as good as uh you know Steve Co who owns the Mets guy’s worth I don’t even know how many billions and I think I’m a better poker player than him according to Wall Street bets or whatever that is the market watch or in Business Insider yeah well again we can’t prove or disprove but the headline is what it is so I’m going to believe Scott is one of the 22 biggest poker players on Wall Street which would make Scott a multi-billionaire if if I’m reading it correctly and you might have guys wife she she might uh you know she might be like where where’s all the money yeah Mrs redler needs a new kitchen and yeah Scott’s been on documentaries in China’s CCTV 2 um also in BBC Traders Millions by the minutes you can find that on YouTube if you want to take a look here’s Scott teaching in New York City and um so about the charts so Scott is a trend spider machine I’m guessing he makes he ised at least at least 10,000 charts a year uh with Trend spider and um you know Scott why don’t you tell us a little bit like broadly about how you use charts in your daily trading oh well they give me points of reference and they give me ways to uh figure out where my risk is defined and what things like you know I’m a I’m a pure cocktail napkin technician I’ve been doing this for a long time um you know as we grow up in the business you have to know a little bit more than just charts bull Flags bare Flags you know Head and Shoulders top bottom wedges yeah you have to know what’s driving the tape you have to know what the narrative is you know what you have to know what the sentiment is but all in all charts is my guideline and I have lots of different ways that I I go about my business and about what I’m doing and that’s a lot of stuff that we’re going to go over as we move forward through the slides okay all right so Scott um why don’t we talk like broadly about um why use Trend analysis because you know Traders they’re always talking about the news the latest headline and what it means so how do you incorporate charts into your work while you’re hearing all the all these headlines and these things going on well I think we’ve kind of find out that every network has their own bias on what to think about the news and The Narrative of the news so who even listens to the news not me I don’t even turn my TV on until about 9:00 after I go through all of the the the headline news not what people say about the news and then I figure out what the trend is you know are we above the a21 day are we in a strong Trend are they buying bad news are they selling good news what is how how do things feel so being in a certain Trend you know there’s certain action and there’s ways to react to the action I’d rather you have to know what the the Market’s hyperfocusing on with the news like lately it’s been obviously do we have a hawkish Fed um how many Cuts do we have next year how much are we up going into Christmas and New Year’s and you know where are the moving averages and and um you know where do how do we get involved in a strategic way as we head through you know year end so um right now everyone’s kind of hyperfocused on rates they’re hyperfocused on what the FED might do next year they’re hyper focused a little bit on you know what Trump’s gonna doing his new agenda and is he G to be the old Trump where he does Tweets in the middle of the night and messes with every Trader or is he gonna maybe be a little bit more grown up so we’re all trying to figure out you know how the markets going to react to um the new Administration as well as um potentially inflation sticking around and that you needed to know today you know that everyone’s a little worried more about inflation that it’s being a bit sticky so when the pce came out lighter um you had a nice response to that dis morning and especially after a move like we’ve seen Down throughout the course of of this week okay yeah and I I and I know Scott you you you love to show this chart with with all the reasons the world was about to end going back to like 1970 so I think like long term our bias should be a little bit positive wouldn’t you say yeah over the long term the bull market wins that’s why I tell everyone if you have kids that are 2 three four 5 years old start a 529 plan if you worked for someone and you’re a Trader on the side make sure you max out your 401K every single month it’ll help you in the long term and um you know saying that this isn’t going to end well is in a trading plan if we’re in a faulty tape we below the moving averages and you know we’re going lower that’s cool you know if we’re in a trend that’s higher and it’s a hot Trend and there’s momentum and oh it’s too overheated well it could stay overheated as long as it wants until it’s not so um I like to use um you know I like to use daily charts I use weekly charts I use monthly charts but when you look at a chart like this it goes to show you how many times the media said the world would end and usually it doesn’t so you always want to stick to your long-term macro plans which is just a little bit different than trading okay all right so we we’re gonna get into moving averages so so moving average averages are a main stay in Scott style and um you know you if you follow him on Twitter you know he’s always talking about the 821 day and using those to measure the active composure so Scott we we know you like the eight the 21 Day the 50 and the 200 why these you know a lot of people like what’s the difference between the eight and the 10 or what’s the difference between the 10 and the 20 not that much it’s just it’s just depending on how active you want to be you know if you trade for living and you’re holding multiple positions you want to do that in a strong Market a strong market is when it’s trending above the 8 day moving average or even the 10day moving average means that dips are buyable that means dips are shallow it means shorts are trapped and it means stocks are moving pretty fast so that’s why I love the eight day and as an active Trader that’s in front of their computer all day you could stay with the eight day someone who doesn’t trade for a living you know might say hey I I can’t get in and out as fast as you Red Dog I just want to be involved in some of the best names out there so let me go with to 21 day or the 50-day so the less active you are the lower moving averages you care about because it’s it’s broader so if I could sell something when it breaks the8 day you know I’m so fast that I could buy back and test the 50-day where someone might not be able to sell the 8 day and test a 50-day get out at the 8 day goes to the 21 Day and then it makes new highs so it’s a barometer of of how active you are and usually the healthiest stocks as well as the strongest Trends are above the 21 days so that’s when I want to have the most risk on okay so what I think that’s a good point time to get into so Scott you you have two different trading approaches the first is the portfolio approach so could could you talk about a little bit what this means it just means that you know I’ve been doing this for 30 years so I I have an active account a swing account a box account and a and a option account so I try and treat myself like a little portfolio manager so when the markets trending well I want to have risk on I want to use my buying power so if we’re above the a21 then we’re trending like we were pretty much from September 11th on that wash out trade all the way up to almost Wednesday I want to be in multiple positions I want to be buying things that are the strongest and I want to be using a tier system to net money and let some let some you know some positions ride let this let the stock market actually make me money versus just day trading so above the a201 day in the S&P is a way that I want to be in the tape I want to have risk on I want to buy dips I want to trade through price points I want a sell to strength or even extended strength and manage it instead of just trying to day trade when things are going lower and you don’t want to have risk on because there’s no need so I’m in a portfolio approach usually when the S&P The Q’s I’m sorry there might be a fire out here you hear the SP engines you know above the 8 day 821 day moving average so if you use the eight and 21 day moving average it helps you drown out the noise of the media as well as what everyone is obsessing about because chances are usually when they’re obsessing about things it’s just to sell page views and advertising and it doesn’t help you as a Trader okay so Scott we we pulled up a just a simple chart of the SPX with the moving averages on the screen so can you talk a little bit about like what you saw after the election because we had that big gap up and people were asking is this it so how do you break down a situation like this well when you have a binary event like an election it’s hard to be in Crazy Equity positions so usually go with options so when I was on Fox Business the day of the election and a lot of my friends were like Trump’s going to win with the landslide I’m like hey if Trump wins it’s probably good for Bitcoin good for Tesla and I don’t understand djt so I’m not going to play it so we also had iwm so had a few different option trades on so if I’m right I make a lot of money if I’m wrong risk is premium paid so if you look at this chart you’ll see that there’s a big gap up post election he had some follow through then he came back when he started to nominate his uh his board members and then we held the a 21 day and from there you know which was uh what was that that was pretty you know it was you know mid mid November or early to mid November you then held it and then we had a nice sequence all the way up basically until um what’s it called uh you know Wednesday where things got a little more volatile okay so let’s talk about the Tactical approach so um th this is when Scott when you start to take notice and raise the raise the risk flag a little bit so you talk a little bit about when you move into a tactical approach right like like on on Wednesday I I sold a lot of my positions we broke 602 in the spies and that broke below the a21 day and once you break the a21 day you have no idea what’s going to happen next you could test the 50-day the 100 day the 200 day I’d rather be out of the way and revisit versus you know go hold my nose and go under water there’s no need for that as a Trader you could always have control so when I get in tactical approach I get in a lot of cash a lot less positions like today came in with nothing I had no positions besides some leftover options and when the S&P futures are down 50 60 handles this morning I was feeling great I was able to buy things verse lows buy things when they were claimed lows from the prior day to show that you know that the the prior day isn’t as in control as this day and made some pretty good money so when when volatility strikes and you’re not sure what’s next and you’re looking for Market Discovery I’d rather be more of a day trading approach and that usually happens when the& p is below the a21 day which it broke on Wednesday and now we’re trying to figure out what’s next I don’t need to sit in things and and let the market you know whip me around figuring out what’s next I could be on the sideline pick and choose my spots better from a an even kill approach okay okay um so Jason I’m gonna pull up um your platform so like when we wanted when we like want to know exactly when this happens uh how do we use Trend spider to get that Alert in real time yeah for sure so the there are a couple different ways that you can utilize or you can get that alert um first and foremost I know you guys are talking about SPX I want to be clear you cannot get alerts on index um like on on SPX but so I’ve just got spy up here on my chart um by way Jason I trade a lot of spies all the time so as a community so I’m sure they could benefit from this perfect yeah so very very simply this the the most fluid way is just just simple right click right click on whichever uh moving average you want to get the alert on and choose create alert um you can choose different types of triggers so depending on the specific trigger that you want uh you could pick the one uh in this particular case we’re we’re talking specifically about a breakthrough so it makes sense just to choose breakthrough you don’t really want to be alerted if it bounces or if it only touches you want that breakthrough um this sensitivity feature allows you to find like an area around the indicator that you want to be alerted on again with a breakthrough generally I’m going to have sensitivity turned off because I want it breaking through that particular moving average but in the case of a touch or a bounce maybe you want to have sensitivity loosened up a little bit um pick your confirmation candle down to the 10-minute time frame on the daily chart here uh so you know if it breaks through 10 minutes past you’re going to get the alert and then chose your expiration how long you want that alert to live in your system up to about 100 days depending on the plan that you have and then the amount of triggers so up to 20 triggers so essentially what this means is over the next 65 days uh and the next 20 times price breaks through that 21 EMA I’m going to get an alert to let me know a unique alert every single time that happens over the next 65 days up to 20 unique triggers so that would be kind of like the first the easiest most efficient way you can create alerts like that on both of those moving averages just by right clicking on them um you can also utilize multiactor alerts uh so if you wanted to Define not just the fact that price broke through a moving average but maybe you wanted to also say it did so on you know 2x average volume on a lower time frame and you wanted to add just whatever specifics you wanted to add whether it be price conditions or indicator conditions and you wanted to utilize multiple time frames uh within those conditions you would want to use a multiactor alert and you can kind of script multiactor alerts a number of ways you can do them manually through like dropdown menus but I’ve been getting really keen on our human language condition writing because simply it just makes the process a little bit easier like I can say you know EMA 21 price broke through and apply and what it’s going to do is it’s going to just create that condition for me I don’t have to know how to script the condition it just does it so I can say that I can say specifically you know uh this is me going through the manual process so I just want to like show that too I can I can Define like where price is relative because you know if it breaks through you’re not defining is it breaking through to the upside or breaking through to the downside so you might then want to say price close less than the uh indicator you know EMA or whatever it might be so two ways to get those alerts uh there’s even a third way like in theory you could create um a uh strategy that gets out on a 21 break or eight EMA break or whatever and then uh set up that strategy as a trading bot so that you can then get signals for all of your entry entry entry and exits but since we’re just talking about alerts we’ll just stick to just the alert explanation yeah I I kind of feel like an idiot because I’ve been using trans spider for years I didn’t know I could rightclick and set up alerts I feel I feel like I should have known that a long time ago okay all right thank you Jason okay Scott so we’re gonna kind of get into the type of stocks you liked and we’re gonna get into some of the recent trades if you if you guys follow Scott you know you probably heard about the Trot and you know Santa Claus has rushed to 100K and Tesla was also a big winner for Scott in and after the election so Scott generally speaking when you’re looking for like long swing ideas like what are you looking for I’m looking for stocks that are showing relative strength that if all of a sudden the the S&P holds the 50 day maybe a stock is above the E day and then it has a a nice price pattern it’s been going there for six months or so and then starts to go and and is a leader of the tape and then when the Market’s down a little bit it’s not down much if it’s not Market’s down a lot it’s not down much much and when the market goes it’s up a lot so I I typically look for great chart patterns that are tight that are showing relative strength and then the market start to move those are the ones I try and you know gear towards and if there’s a narrative around it um like there kind of was with Tesla and Bitcoin if uh Trump won the presidency then you then you get an added boost and that’s when you should probably really get bigger and make a lot of money so let’s go to some of those charts okay all right so when we talk we’re talking about like tight charts does Tesla qualify cuz specifically we had that roboox taxi event and then you know it boomed into earnings everybody hated the stock into earnings do does this qualify as one of these tight patterns you like well Tesla was a lagger for a while and uh I avoided it for a while when we were trading other leaders and then you know once it ignited like if you look at the you know setting into into the earnings report and post earnings report it finally woke up so that got me more in tune with what t was doing because it moved from my c or b list to my a list so Tesla was great back above the moving average after the RoboCop event be Robo taxi because they thought you know maybe it was priced in so the bottom line is um you know it had a great sequence and then into the election I was like you know what if if uh if Trump wins elon’s been his number one not say cheerleader but cheerleader and chances are Tesla will have a little bit of a Halo so I took options into the binary event with my option account and then once you had the Gap up which you have here on the Gap election um you know then then I was able to buy the stock and trade the sequence and it was above the 8 day it was above the 21 Day it made higher highs it made higher lows and it was showing relative strength to the entire tape so it was a fantastic swing trade all the way up until about Tuesday I think I said I’m selling calls I’m buying the TL TSLA q and that was before if you look to the right side of the chart you know you had a little bit of Red Dog reversal sell you know as it hit 488 and that was my out I did buy some Tesla back today it’s not leading the tape you know it put in a a small little low and if you you know if you sold 475 why can’t you buy you know four 420s and and I actually did a red dog reversal today if you look at the chart it went below 420 came back above it and that’s a a pattern that I’m sure Trend spider could help identify for you if you’re looking for Red Dog reversals long or short you know they could definitely do it I’m probably going to start using them myself okay all right so let’s talk about the the Bitcoin Turkey Trot so this is one of Scott’s signature calls of 2024 October 11th he started pound he started hounding me over text he’s like we need a meme for the Bitcoin Turkey Trot so if you Google Bitcoin Turkey Trot um you you’ll see Scott so Scott what made you say this is the season for Bitcoin well first the chart was great the chart on the on the weekly was going sideways for seven eight months and Consolidated a huge move um and then I do remember every Thanksgiving my mom my mom my mother-in-law everyone is like oh my God Thanksgiving you know did you hear about bigcoin what’s going on with crypto da d d the kids the nieces the nephews so I’m like you know what the looks really good I’m like let’s start a Turkey Trot because I do a Turkey Trot every year on Thanksgiving where I run a 5k with my son if you Google Chase redler he actually has the world record as an eight-year-old for a 5k so anyway with that being said I’m like let’s get involved now at 62,000 before we’re sitting at the Thanksgiving table and everyone’s like oh my God bitcoin’s awesome how do I do this and I actually said 885,000 now I think that was my goal what was what was my I don’t remember my exact target it went to like almost like 90 something thousand prior to Thanksgiving and then since it got there everyone’s like well what about Santa Claus if it’s there now like I probably gets to 100,000 like why wouldn’t you know Bitcoin get to 100,000 if it’s at 86 everyone in the world’s talking about it and who’s going to sell it into year end blah blah blah and PS it went to 108 you can see by that chart it was above the and 21 day the entire time you could use the tier system you could have bought Bitcoin miners at sometimes you could have bought ibit I focused on the IB and then you had recently earlier in the week it hit 108,000 and it seemed a little excitable and then risk happened and you were able to reduce you know into that move I did come out with another meme saying 118,000 when it got over a 100 but that was just like a thought you know you never know where it’s going to go same way when it was at 62 I said 85 I didn’t know it was going to go to 90s something and then once it was at 90 something and proved to be that strong like now it can go to 100 something and um at this point 108,000 is the high you have a low that was put in this morning and now we’ll see how Market Discovery happen so don’t trust people who just come out with these crazy you know targets I don’t do it for headline purposes I do it it’s usually calculated with Fibonacci extensions and whatnot and this and that um but at this point Bitcoin I if I were to make more of you know a week ago I said bitcoin’s going on I would say I think 108,000 is probably going to be the high of the year but probably not the higher next year and those are just some small thoughts Jason you’re smirking what do you think about that I mean I don’t think you’re wrong at all I can’t hear Michael though Michael was saying something I think you’re muted okay yeah so I accidentally cut Scott so Scott you think 108 is the high for this year I would say I think so yeah okay but you think it can go higher next year I do okay Jason sorry for cutting you off what were you saying no I I I’m come I’m basically completely agreeing with Scott I think yeah I think Michael never really completely agree he agrees a little bit I think probably High’s in maybe we go back and test it get pretty close but I think quite higher next year for sure okay okay so uh Jason we’re we’re gonna ask you to pull up your screens again so we know that Scott loves these stocks that Gap up and holds those gaps and we didn’t think it was yeah yeah so we we like so yeah obviously we would like easier ways of finding these rather than going through the earnings list every day and the gaps list and trying to find stuff that actually gaps up and holds those gaps because that’s been a consistent Money Maker for Scott and his community so we would love you to show us like how to do some of this stuff in an automated way yeah so you know working with you guys we have developed a handful of uh scanners specifically for different setups that Scott’s looking for we’ve got the gaps list scan um and this one particularly you know there’s Scott if you want to kind of speak to this it’s pretty pretty cut and dry pretty what we talk pretty much what you kind of talked about what you’re looking for Price above those key moving averages you’ve got a couple of really basic things in here just minimum price conditions minimum market cap conditions minimum volume average volume conditions um and then looking for that Gap and also a condition in here that says that earnings are not within the next no yeah not within the next uh 30 days as long as earnings are not within the next 30 days we’re good to go um and 30 days oh we just put that in because Scott we know you don’t like to take stocks in earnings right no 30 days is a long time is because maybe they could pre-announce and then if you’re sitting in something and it pre- announces because usually when the court is over you know a company has about 30 days to pre-announce whether or not you know um it’s not going to be what people think or not yeah I mean the cool thing about this is you can adjust this to whatever you want right this is a this is a very basic kind of um template that we have built that can be shared to any3 traders that are also trendspider Traders anybody who is a trendspider Trader who’s interested to know more about you Scott and your style of trading um they can gain access to any of these scans just by requesting it via our customer support Channel um but yeah that’s what this scan looks for it just looks for those names that have gapped up recently and are holding that Gap so you got Cen you’ve got ALK sh TAA pstg not many names on this list but man they look darn good don’t they like especially relative to the Past what what the Market’s been doing over the past three days yeah wow that’s a strong list that fits a lot of parameters it’s big gap up didn’t fill the Gap the market weakness didn’t you know have the short sellers win so those should be things that turn to when the market gains some traction which it looks like it is like the market repaired a lot today in my humble opinion I didn’t think that we were going to have this type of move up I guess the same way I don’t think we’d have that kind of move down but you never know right but um at this point though that that’s a powerful indicator when you have a big Pro gap for news for earnings for an event and they can’t fill that because there’s a lot of people caught short and a lot of people want to buy a lower and if they can’t get a lower typically means it’s going higher yeah another cool piece of uh functionality that we launched relatively recently is something that we call scheduled scanning and so the the purpose is twofold of this particular tool the first is schedule scanning allows us to just simply set our scans on a schedule to run automatically for us every single day of the week and then have those uh have those results delivered to our email inbox instead of getting up early in the morning running your scans writing down the names that are key or building custom watch lists or whatever this is just a quick and easy way to get those conditions sent to you every single day it just kind of removes that however much time you spend scanning whether it’s in pre-market or after hours or whatever get those conditions sent right to you and I’ll show you very quickly I’m going to share this tab so you can see it um this is an example of what you’ll see when you schedule a scan and what’s cool about this is not only am I getting it the names delivered to me but I’m also very quickly able to analyze what names are meeting the criteria right now what names are new to the list what names are no longer on the list that were on the list before so that’s the thing about when you run a scan you’re only seeing what hap what is happening right now and you kind of lose sight of well what was what what was happening yesterday right um this allows you to see all of that in one so this is a different uh scan this is your redler Runners scan or redler Runner scan uh and but it it showcases the same idea right you’ve got a list of symbols that are all meeting the criteria of the scan the ones that are in blue are new names to the list so they weren’t meeting the criteria yesterday they are meeting the criteria now so those are potentially new names that you would want to immediately check out and see well why are they meeting the criteria right now you also are very a very quickly able to see which names are not meeting the criteria anymore what names fell off the list that were on it yesterday so it’s just a quick and simple way to get a of information very very quickly very cool okay uh guys so we’re up to looks like we have 6900 people watching live so thank you to everybody for join very mtic number yes well I I I have no idea what you mean by that Jason so let’s move on okay okay all right let all right SC let’s talk a little bit about Reddit because this this is a name you played you know again this is this had that big giant beautiful move after earnings there was Insider selling new so could you talk a little bit about how you played reddit reddit reddit was one of our power plays it was one of those names that you know came public when no stocks were coming public so that was on my radar right since 2021 there was a very limited amount of stocks coming public so if you came public you had have a lot of exciting things going and uh and then it just W up filling or fitting all my parameters was above the 821 day dips to Bo fast uh you were making higher highs and higher lows and it was just a great trade you know you could have went about it a lot of different ways every time news came out that like an Insider was selling okay yeah it’s a new issue from not even two years ago or so of course Insider going to sell and take a little bit off the table because look at they don’t want to be uh Jeff basos and leaning on a stock like Amazon you know with 20% of a float you know a decade later so every time it came out that there was an Insider selling and the media got all upset you know it was one being a good good buying opportunity and uh PS the stock was a great trending trade we bought deps we added to it we sold higher and even now you know Reddit right now today is up eight it’s at 171 you know so you had the high of 180 it’s you know if you put up the real life chart it’s it’s above the eight and 21 day there’s not a lot of charts above it so it’s a strong Trend and chances are it’s going to stay strong into next year so that should be on everybody’s go-to list okay awesome all right um let’s talk about uh carvana so this is one of the the alltime great short squeezes every time they report earnings it goes up like 50% so so so Scott why why are people obsessed with shorting things that go up because they think it’s not going to end well I don’t know it’s just it’s just weird you know plus the stock was almost a bankruptcy so I get it there were a lot of people trapped before all of the Reddit crowd got behind this or you know the Wall Street bets whatever you want to call it but again I I did not really trade this name a lot so I can’t really talk so responsibly about it but all I know is a lot of people always tried to get me in it and if you look at the chart here you know follows all the parameters it’s been above the 21 Day dips have been viable and you know there they gave you no really reasons to be short this stock except if you’re had an opinion and if you’re of an opinion you know that’s how you get put out of business especially if the price action goes against your opinion okay let’s talk about gold so gold was Monster winner this year since the election it it’s it’s fallen off so could you talk a little bit about what you’ve been doing with gold this year Well gold I think was a power play earlier in the year and then it was above the a21 day and it was a great you know great narrative around it and then all of a sudden got a little faulty and if you look at the chart here you know you just want to put technicals on top it broke the E day you know um on the election and then it broke below the low of the 8 day bunch of days later in November and and then you know the 21 days so if you sold it into strength or you sold it when it was breaking down you know you were able to get out of the way um I think gold should be part of your asset allocation plan I think Bitcoin should be a part of your asset allocation plan if you have one if you have that pie chart in a 401k and your x% equities X perent bonds I would do you know a certain percentage of gold and Bitcoin you know longer term but if you trade for a living and actively like I do even with gold just like crypto which is a little obviously hyper hyper fast compared to Gold using the a21 day will always keep you on the right side of that trade because there are a lot of gold bugs out there that have opinions on gold and they always think it’s going up and it doesn’t always go up so if you trade for a living and you always think it’s going to go up you know It could wind up going against your p&l and if you look at this chart there’s been a time and a place to get in Gold when it’s above the a21 day you want to be in it when it has a great tight chart pattern expanding on volume you want to add to it and when it’s on the defense you want to take a step back and then figure out what’s next and um I haven’t really been that active in Gold lately it hasn’t been where the action is my okay so okay so so we’re GNA talk about a sector where there’s lots of strong opinions and where they definitely where the action definitely has not been and that is our friend msos it’s down about it’s down 47% this I I am down a bunch of money I bought some calls like an idiot somewhere because it Scott this is what I said I said it can’t get any worse than this so what do you think the reverse stock split and then you get down again box but it’s a freaking yeah you know what I lost a lot of money in this thing too you know it feels like the the headlines were that cannabis and it’s going to be go from medicinal to recreational and that it’s going to go from three states to 50 states we saw this the sector hot like four or five years ago and since then it’s been a in a horrendous Trend even though we’ve dissected really good trades during the January effect in January February it’s still been a disaster and if you look at the chart of the msos it looked like there was going to be a trade there for the election that maybe they would get the safe banking bill done and it gapped up and then it broke the moving average is around seven and it got cut in half for the 177,000 time in the past three years so hopefully you’re out of the way I’ve tried it a bunch of times I’ve tried at till Ray calls I’ve I’ve made a lot of donations I should have made donations to charity instead of this sector but at some point when they do a safe banking bill I do think the sector is going to get better they’re going to be able to transfer money across state lines you know they’ll get rid of some of the the under the table uh individuals out there and there’ll be a viable investable sector but it just hasn’t happened yet and every time it tries it’s like the boy who cried wolf but if you use the moving averages it kept you you know at least from getting really hurt but it’s always easy to have some paper cuts when all this kind of stuff happens okay so we have about um almost we’re crossing 7500 people live around say hi in the audience if you’re watching out there on Twitter or YouTube tell us where in the world you’re watching from I know we have our friend Tony here I’m sure it is in the crowd but let us know in the chat where you are listening from oh so Jason so we also set up a scan to find sort of these these messes um so we’re going to pull up your screen so you could show us how to uh use Tren spider to sort of screen for these trouble spots and I I will you know it’s of course is in Richfield we have Florida but yeah guys type in where you are from while Jason shows us how to do this in Trend spider yeah so same you know same idea just in Reverse right like all of the things that we were looking for on that gaps list minus the Gap part but in Reverse so price below those key moving averages relative performance uh we Define as below 50 so these names are in the the lower 50th percentile of price performance relative to the S&P 500 here again all that same stuff the volume market cap minimum price conditions and basically you’re just getting back an absolutely massive list of names so you know like one way that I think about utilizing these things is is even just to just to gauge how many names are showing up here versus how many names are showing up there you know uh it’s kind of like what happened with the the market before the market head headed lower everyone’s like did you see the ad lines red dog they’re disgusting they’re deteriorating I’m like well I’m not in those I’m in Bitcoin I’m in Tesla this and that like well you know you should notice that there are more names breaking down than up so that help connect the dots that on Wednesday when he became hawkish and we broke that upper level you know you kind of knew that you could have been out of the way etc etc so having a scanner like this Jason where it’s telling you that there’s more things that fit this criteria than than you know than strong near the highs of the year that are above the a21 day it kind of tells you probably the health of the overall tape right yeah dramatically more and you can do things like bringing up your um bringing up your scanners over here so like if you wanted to be able to kind of make that measure relative um you can come into your like watch list and so here’s my gaps list I could add another one over here on the left hand side and say grab this other one we’ll use the redlers runners here so I’ve got my redlers Runners list I’ve got my gaps list and I’ve got now my relative weakness list and it’s just you know blaringly obvious which one is the which one is the top dog as far as how many names are there and just again to everybody that’s tuned in if you are interested in taking advantage or getting these scans yourself you know on Trend spider we make it super easy to share scanners of all different kinds um we’re happy to share these scans that we’ve built with Scott and his team um with any transend spider traders that are interested in them if you’re not yet a trend spider Trader if you’re interested in taking taking advantage of the deal that we have going on right now um you can get all these scans as well just have to reach out to our customer support team to request them okay uh guys we’re gonna get into Q&A in just a minute but if you want to save on Trend spider they have amazing holiday deals you can save up to 71% these are are the same Scots that chart that charts that Scott uses it’s fast it’s simple it’s super powerful their scanner is amazing I’ve use like 30 different scanners Trend spider has more features than you could possibly imagine you can back test ideas you can train AI models tons of other stuff if you go to T3 live.com TS that’s actually a forwarding link so that’s going to take you to trendspider if you go to T3 live.com slts and if you have questions put them down in the chat below again any questions put them down in the chat below looks like we’re going to get across 8,000 people watching pretty soon and if you guys want to get Scott’s free newsletter go to T3 live.com ddb you can get it Monday morning he’s going to be covering Tesla Bitcoin all the hot stuff on Monday morning T3 live.com DB and so put your questions down in the chat we have Scott for a few more minutes before I he has that look in his eye I can tell he’s itch TR to trade the close sorry I’m just like you know like um I’m watching a thousand things here that’s what I do every day I have my swing account my active account my option account so I’m here with you all but I’m also watching my my my options my my positions and I’m trying to figure out just the same way all you are are how how to make money how to navigate the tape and I get paid quarterly for a living and it’s December 20th and I’m trying to stack them pack them and rack them myself Jason you know what movie that’s from I do not stack them pack them and rack them anybody let’s see if uh get on the comments fellas stock no that’s that’s like for hey what the that’s not that I’m telling you go to the go to the comments I I you know what Scott I I Googled I cheated I Googled it because Die Hard Die Hard two Die Hard 2 which is let’s bring up Bird’s home and Die Hard 2 is a Christmas movie like die hard one that’s true it is so basically when they got when they finally blew up the terrorists you know it made like a a landing a landing like you know the the runway lit up and then now the planes were able to fly down because the the runway was on fire and the the guy from the quality control is like stack them pack them and rack them and bring our Birds home I don’t know why I remember that I was like 14 years old or something watching that maybe 30 times besides Rocky four and three and two I remember the best part of Die Hard too is like the naked guy in his hotel room practi practicing his karate before he takes over the airport okay all right Scott we have a question from our friend triple standard um what assets does Mr redler like to trade Mr redler very respectful so what do you like to trade Scott whatever’s above the a 21 day that that acts well that I could buy and add to on dips and takes out highs and makes higher highs those are the things I like to trade that use technicals okay Scott how do you feel about um Trading Places Tony’s pointing out it’s a great Christmas movie I love it I love Eddie Murphy you know I like Boomerang I like uh you know I I love Trading Places everyone should watch it I I watched it actually the other day for like 20 minutes with Chase but he just he couldn’t get into it you have to watch the whole thing you know it’s it’s a little slow you watch movies from the past compared to the way movies are made now they’re so slow that kids these days they just can’t watch them because it it just it feels like you’re watching like what remember when they used to make movies where they would flip like cards and it would create a movie like that’s almost like watching an 80s movie now you know the technology and what how it was done but I could watch him a hundred times just kids like Chase watches on his phone he’ll be watching a football game he’ll watch another game on his phone and then he’ll have a red zone over there I’m like I can’t be in this room yeah you know what Scott it’s interesting you say that about movies because movies are it’s weird that movies are they have so much like short-term flashy crap in them but there’s so much longer they’re like every movie’s like two and a half hours like you know how long Rocky 4 was 1 hour and 31 minutes best movie in America yeah no no it’s it might not be the best movie in America but it’s the most American movie ever made there you go if I could change and you could change everyone could change think how relevant he is right now with what’s going on with Ukraine and Russia and just and just like that communism died died and it was because of Rocky and and Rambo three into Rambo 3 also played a role but it was primarily Rocky four oh yeah why do you think we left Afghanistan you know what he did there right anyway yeah we’re gonna have to we’re gonna have to do a whole move on from Rocky and Rambo you want to talk about over the top we could do that oh my I saw about Tulsa King we can go to Tulsa king that’s pretty good I I saw over the top I still remember going my dad taking me to see over the top and I thought it was simply an amazing amazing movie want to play do you want to play this the theme song from there the miles like you guys have fun every day don’t you we could talk about Mister up 33 points it did a red dog reversal today IB it did a red there were a lot of stocks that did Red Dog reversals the the stupid thing about this Market you want me to tell you Jason is that why did the spiders without a 20 cent pulling have to go from 581 to 59575 it’s like they want to take you to the extreme the same thing they did on on Wednesday they took the market from 602 without one breath down to 585 that’s how good these computers are and that’s how alert you guys have to be at home that if you T try a level that’s in no man’s land you’re going to get blown out of the water like if you tried shorting today and I was shorting some premium besides being long I felt like I was going to like we were going back to 600 and now here we are this Market can’t even bounce we’re probably going to close at 590 from 995 right in the middle of the range but they had to do it all in the first three hours that’s so people sometimes say Red Dog how did how does the how did the market change well the market change is that sometimes computers are Relentless the programs are Relentless and if you’re wrong you better make sure you’re wrong in a spot that you could trade yourself around because if you’re in a No Man’s Land spot you’re in trouble meaning if you short too early you’re in trouble you buy too early you’re in trouble and even if sometimes you pick the best spots you know it’s not the easiest thing to do what are red dog rant for the day what are your thoughts uh going into next week obviously we got Christmas on Wednesday it’s probably gonna be a relatively slower week are you thinking are you thinking Bottoms in and we’re going sideways or you think maybe like at least a retest of the lows maybe swipe the lows where’s your head at I don’t know I feel like today was a pretty you know pretty you know pretty what’s the word potent low you know like we were down 60 handles PC came out they trapped some shorts didn’t let anybody in I would say there’s a high probability that the the pre-market low will not be violated next week unless something crazy happens and we’ll be somewhere within this range between yeah 580 91 is the low of the on the tape versus the pre-market low and 595 I could just see us being in this range between you know that and perhaps if they want to get things going maybe you know it can get back up to towards 598 to 602 but do I think we’re making new highs next week in the market no no chance there’s more of a probably a high probability that we make a a lower low than today but with the holiday next week I don’t see why that would really happen unless you know all of a sudden they really shut down the government on Monday and and and do something like that right right on just curious I it good question okay guys all right um I think this is a good note to end on let us guys let us know in the chat what did you think of this little shindig we have some more parties lined up for the future uh we love T3 live loves Tren spider we hope Tren spider loves T3 um and again guys you could save up to 71% on Trend spider if you go to T3 live.com slts which also stands for tight sneakers I believe J I had a I had a high school teacher that used to make that joke like all the time TS tight sneakers I have a wide foot so I I can’t wear tight sneakers I have I have that same issue Scott T3 live.com TS you could save huge un Trend spider and if you want Scott’s free newsletter Monday morning with Nvidia Tesla Bitcoin all the fun stuff covered T3 live.com DB again absolutely free Scott we need we need I’m not going to let let you leave we need one more piece of wisdom from you what do people need to know in the market in the next 36 minutes you just don’t have opinions you know try and be prepared as much as possible try and have your mind right so you could execute on the X’s and O’s you know a lot of people like Red Dog you have like this red dark mindset that you’re ready for any tape I’m like well I really work on it I’m up at 4:45 in the morning I’m in my sauna for 20 minutes sweating it up I go in an ice Barrel every day no matter whether it’s 27 degrees or 60° and if it’s cold I’m like ah let’s get in there you know it’s not something I want to do but we do it anyway so you’re training your brain for Go Time so when things trigger during the day you’re not second guessing yourself you’re making executions and you’re going with it so as long as you’re prepared mentally you can handle any Market whether it’s up down sideways you know you’re not overtrading you’re not under trading you’re not chasing things and when you’re in a voice tells you to do something if you train your brain and it’s strong enough for go time you know you’re going to pull the trigger instead of looking back and say well I thought it was going to happen but I just didn’t do it you know what if Grandma had ball should’ be grandpa or the king I I can’t say that something like that all I’m saying is you know do what you got to do to work on yourself and become the best version of yourself and chances are the performance will follow it’s not just the x’s and the O’s a bull flag you want to Google a bull flag you want to Google a head and shoulders top you want to Google they’re all Evergreen stuff and they all make sense and they’re all ways to make money but it’s how you think about it how you go approach it and how you handle yourself is whether or not you’re going to be in this market for six months two years or 30 a bad day is a bad day you need to know how to work it off a great day you’re not going out and getting drunk and being hung over tomorrow because then a gonna lose it so it’s even kill if you can stay even kill and find out what makes you happy chances are you could do this for a long time okay awesome thank you Scott and uh Jason if if people need to get in touch with Tren spider to find these scans or anything what exactly should they do is there a URL they can go to like if they want to get in touch what should they do yeah so on our Tren if you just go to trans spider.com uh down in the bottom right hand corner you’ll see a little chat icon feel free to click on that and just say I was watching the live stream I want to get my hands on Scott scans and uh a member of our support team will be happy to send those along to you you can also access that yep right there and then you can also access that in the platform um via the contact us button which is bottom right hand corner little orange button there in the platform um so yeah just reach out to the team they will hook you up with those scans and you can upload them into your account and start seeing the markets the way that Scott is every morning Jason do you have a red dog reversal scanner uh I have one tentatively built for you because I figured you’d want one but it’s not uh it’s not launched yet we need your appr your final Mark of approval on it but yeah it’s ready all right cool a lot of people like Red Dog why don’t you use a red dog reversal scanner because you know the way I trade is I have a go-to list of my 40 names and when things in my go-to list qualify for certain criteria that I like to trade I go with them I just I’m not in this is not the way I do it some guys will trade something that trades 200% of the average volume in the first 15 minutes they don’t care the name or there’s a red dog reversal with stock ABC they’ll just buy it and follow the strategy and put a Buy in at the prior low put a stop in and they don’t care it’s automated I’m more of like a Hamond eggar like I like my keyboard and I like to do it myself but the younger generation loves things done for them I get it um and a red dog reversal is Define risk and it could spit out a lot of ways if I had a scanner there you know it’s calculated that’s what you want as a Trader you want a calculated strategy that your risk is defined and and and have a better than average chance of making money and if if there’s a scanner that could do it for you or a blackbox grade I tend to use my eyeballs and my morning prep but chances are when you have that ready Jason I might have to use it myself yeah I mean there’s very very few things that our scanner can’t do it’s uh uh you hit me with whatever you’re interested in uh uncovering across the market and I’m more than happy to whip things up for you so I’ll get that idea over to your team and uh and we’ll continue trying to grow the list of redler scans here and we’ll keep sharing them with anybody who wants them prob who’s redler uh some guy I don’t know you mean Red Dog yeah we need to Scott I’m like Scott I’m like where Scott from we need to change all the titles to Red Dog don’t we not redler it’s all right let’s we let it go we’ll well we’ll do that we can do that it’s easy enough all right sounds good I appreciate you all right how we doing Mikey I got to trade the clothes it’s 3:30 what else we got to do here we just got sign up we just gota song could we play like a good song for like you know the holiday season or something all right uh uh I know Scott’s about to aggravate about 8,000 people so Scott just do what you’re gonna do I know what Scott’s gonna do he’s gonna what song no what song gonna play because it doesn’t matter because you’re you’re gonna say the name of that person that activates the devices in everybody’s house at the same time no since we’re doing the I want to hear J Jason if we if you were to give us song recommendation I’m putting you on the spot let’s get let’s get a song to end the to end this webinar uh I mean it’s Christmas time man so maybe some something Christmas fun Rocking around the Christmas tree or something like that that was always my favorite Christmas song all right hey Alexa play Rocking around the Christmas tree now the complaints are about to file in because everybody’s devices just went on thank you Scott around there you go it’s Friday right good choice Jason I like it there you go okay all right Scott you gonna go back to trade the clothes all right well done okay everybody thanks for coming on we had a great time Jason thanks for joining us we’re g to do this again so make sure you subscribe to all our accounts on Twitter and YouTube all that stuff thank you guys have a great day cheers guys Merry Christmas to everybody happy holidays