programs. Still, the extent of today’s sell-off is extremely alarming.
The S&P is down almost 10% over the past 9 days, and we have yet to see tomorrow’s jobs number which is expected to disappoint. Debt crises in Europe are worsening in larger economies like Italy and Spain, heightening fears of contagion. Many pundits will say we are simply seeing a reversion to the mean. The market has been in a steady climb over the past 2+ years, much of the time without the economic data to support such strength. Fear right now is rampant, which can perhaps signal the greatest buying opportunities, but most traders at this stage are choosing to be safe rather than very, very sorry. The first move from the head and shoulders pattern was supposed to take weeks, not one day.
For more watch the T3Live.com Daily Recap below with Scott Redler, who has been touting this head and shoulders pattern since last week.
Scott Redler is the Chief Strategic Officer of T3 Live. He develops all trading strategies for the service and acts as the face of T3 Live. Mr. Redler focuses on thorough preparation and discipline as a trader. Scott Redler has been trading equities for more than 10 years and has more recently received widespread recognition from the financial community for his insightful, pragmatic approach. He began his career as a broker and venture capitalist where he was able to facilitate relationships that led him into trading. Beginning his trading career at Broadway Trading in 1999, Scott moved on with Marc Sperling to Sperling Enterprises, LLC after establishing himself as one of the best young traders in the firm. As a manager at Sperling Enterprises, he maintained his status as a top trader in the industry while working closely with all traders in the firm to dramatically increase performance. Scott has participated in more than 30 triathlons and one IronMan triathlon, exhibiting a work ethic that also defines his trading. His vast knowledge and meticulous attention to detail has led to regular appearances on CNBC, Fox Business and Bloomberg, and he has been quoted in the Wall Street Journal and Investor’s Business Daily among other publications. Scott produces much of the media and content available to subscribers and followers. T3LIVE.com is an online financial media network and education platform that provides active traders and investors with market analysis, real-time access to strategies, and in-depth training from real traders, real-time
*DISCLOSURE: Scott Redler has no positions
This material is being provided to you for educational purposes only. No information presented constitutes a recommendation by T3 LIVE or its affiliates to buy, sell or hold any security, financial product or instrument discussed therein or to engage in any specific investment strategy. The content neither is, nor should be construed as, an offer, or a solicitation of an offer, to buy, sell, or hold any securities. You are fully responsible for any investment decisions you make. Such decisions should be based solely on your evaluation of your financial circumstances, investment objectives, risk tolerance and liquidity needs.Visit the T3Live Homepage, Virtual Trading Floor, and Learn More About Us.