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The current market environment remains tactical and uncertain rather than entering a major selloff.
Scott Redler observed that SPY recently fell below its 8- and 21-day moving averages. Attempts to reclaim these technical levels were unsuccessful, leaving the market in what he described as "no man's land." He also references ongoing considerations around an oil trade setup.
Redler’s assessment of the market’s technical fragility draws on themes seen in his previous analysis of a potential decline for SPX below 6,880, where he highlighted pivotal support zones amid mounting pressure. His focus on trading structure as a critical lens mirrors earlier perspectives on a trade strategy that delivered his best MSFT result in months, underscoring the continued importance of methodical execution in shifting conditions.