After a lower low on Friday, the markets rallied to end the day up more than 1%. I see a clear double bottom right now, which is usually more bullish than bearish.
But until we have a catalyst I think the markets are more likely to chop around sideways rather than breakout or break down. Markets don’t always move up or down … side consolidation is typical of this time of year.
Bitcoin is above the big moving averages. Buyers have stepped up and bought every dip. I remain bullish on crypto until the end of the year.
I’m going to stay risk off until there’s a reason not to. Earnings season is around the corner and even congress has the power to drop a powerful catalyst right now.
Watching and waiting is my plan for now.
OTC (on watch, no levels):
ILUS, CYBL, FERN, ICOA, TONR, ALPP