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Scott Redler, Scott Redler, Chief Strategic Officer at T3 Live and T3 Trading Group, emphasized the importance of the 8-day and 21-day moving averages as decision rules for over 20 years.
Redler advised selling stocks that break and stay below these averages. He added that if SPY, QQQ, or SMH are below the 8-day and 21-day moving averages, it is better to take a tactical approach rather than a portfolio approach.
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Redler previously highlighted a busy earnings week for TSLA, NFLX, META, and LRCX in recent commentary. He also identified the QQQ 200-day moving average and the $687 and $671 marks as key levels to monitor in a separate note. These updates complement his ongoing technical analysis approach.