Yesterday was another wild ride, many brokers imposed previously unheard of trading restrictions which finally crashed many of the high-flying short squeezes.
To the outside observer, it appeared to be a coordinated effort to drop the share price far enough that shorts were finally able to cover. If we learned anything from this it’s that there will never be a level playing field between retail and the good ol’ boy club on Wall Street.
Overall markets moved up yesterday. But futures are trading near recent lows. We may be having that long-needed correction. I’m watching for support to hold at $370 on the SPY.
The WSB gang moved toward Silver and Bitcoin, both are trading higher this morning.
I’m watching several low float energy sector plays. If the bottom falls out I may stay on the sidelines. I’m bearish.
*BRN is on watch
*SNDE watching for a setup above $3
*PED has support at $2.50
*SDPI has resistance at $1.10
*SALM watching for a setup above $2
*HYRE has support at $9, resistance at $10
*SNCA has resistance at $1.70
*CEI has support at $1.60
*PVL has support at $1.20
REI has resistance at $1.30
EXTR has support at $8
SLM has resistance at $14