Market Notes:
The market has held up its end of the bargain. Volatility in the fall, selling in October, this week earning season kicks off.
On Thursday several banks will kick off the party. Financials have been strong coming into earnings. And energy is also soaring as oil spiked above $80 per barrel over the weekend. At writing it’s near $81.50.
The catalyst of earnings should carry us into the holiday season where consumer sentiment is strong. With the shipping backlogs, expect higher prices and higher profits.
Banks and energy do well in expanding economies. I’m super bullish right now and have begun to establish core positions in the major indexes.
And crypto is soaring. Bitcoin is above $56,000 at writing.
The market has sold about as much as it can. And the appetite for risk is strong. I believe the market is primed for swing trades. I’m still holding off on day trades.
Watchlist:
*PED has resistance at $2
*NXTP has support at $2, resistance at $2.40
HNRG is on watch
AEHR has support at $17
VYGR is on watch
BEST has support at $2
TGA has support at $3
ZETA has support at $8.50
CPRX has support at $6.20
OTC (on watch, no levels):
ILUS, CYBL, ALPP, ENZC, PUGE, IFXY