Watchlist: 10/30 Friday Fear

Market Notes:

Yesterday I called the rally a dead cat bounce. Future are indicating this is the case, making fresh lows overnight.

At writing futures remain in the red but less than 1% down. S&P 500 future fell more than 2% in the early morning.

It’s Friday and markets are preparing for two days without trading during a very busy news cycle. The US has set a new record high single day positive COVID-19 cases 3 of the last 6 days.

New restrictions are possible over the weekend.

New unemployment numbers are still high. Likely to go higher with new restrictions. One study out of the UK claims up to 20% of new cases come from restaurants.

I don’t think people will want to hold over the weekend. I’m on watch for heavy selling.


HUSN is a low float, resistance at $2.50

AIRI is a lowish float, support at $1.50

AVID has resistance at $9.60

MGEN has resistance at $1.60

ORBC watching for a continuation

TROX has resistance at $10

RLGY has resistance at $12

CYH watching for a setup above $6

CLNY key level is at $3.75

GNW watching for a setup above $4

Leave a Comment

Your email address will not be published. Required fields are marked *