Scott Redler’s #630club - LIVE Stock Market Analysis

The stock market has experienced a strong period with many stocks continuing to trend upward, particularly in the Mag 7 sector. The speaker, Scott Redler, discusses various stock market trends, including Apple, Meta, Tesla, Bitcoin, and others, offering insights and potential trading strategies. He emphasizes the importance of having a trading routine and process, along with using a tier system to manage risk and maximize profits.

S&P 500 & Market Trends

• 00:01:30 The S&P 500 continues to make higher highs, with the speaker advocating for a portfolio approach with multiple positions during periods above the 8-day moving average. Winners are often held due to tax implications, potentially leading to profit-taking in January. The speaker highlights the importance of identifying price patterns and setups within the market.

Apple Stock

• 00:02:07 Apple stock has shown a strong upward trend, recently breaking above the 237 level and reaching 247.9. This positive momentum is seen as a 'Battleground' for Bulls and Bears, with the speaker suggesting it may need a day or two to consolidate. The speaker previously recommended buying options on Apple and has been actively trading it.

Meta Platforms (Meta)

• 00:04:08 Meta stock, after trending sideways since September/October, has shown signs of a potential breakout. The speaker suggests it could potentially reach 650 by year-end, based on its recent movement and positive weekly chart patterns. Redler acknowledges that the Meta Quest Pro smart glasses might not be a major catalyst for the stock but could positively impact sentiment around the company.

Tesla Stock

• 00:08:08 Tesla's stock price has recently decreased due to the rejection of Elon Musk's compensation package, but the speaker doesn't believe it's a major concern. He anticipates the stock will eventually break above the 360 level and continue upwards, recommending a cautious approach depending on whether it reclaims the 351 level. The rejection of the compensation package might lead to less selling pressure on Tesla shares.

Bitcoin & Crypto

• 00:07:23 Bitcoin's price is currently within a trading channel, with the potential for a move toward 100,000 or even 115,000 by year-end, based on the opinions of institutional investors the speaker follows. The speaker is considering buying Bitcoin call options if the price dips, as it offers potential for substantial gains if Bitcoin experiences a rapid move higher. He has been bullish on Bitcoin since Thanksgiving, referencing a previous prediction that it would reach 85,000.