Watchlist: 11/12 Russell 2000 Risk-On Rally Returns

Market Notes:

Yesterday the market finished mixed and but one index outperformed the rest. The Russell 2000, which tracks the smaller caps, gained a solid 0.8% while the Dow Jones, which tracks the big caps, lost 0.4%.

Here’s the reality, small caps don’t rally in bear markets. With the bond market closed yesterday many institutional players sit out. So it wasn’t a surprise that market action was muted.

Crypto trades 24/7 and bitcoin has retreated from all-time highs but still holding up very well. But I’m still super bullish on this front. In a similar fashion to the stock market, altcoins are rallying. Small risky assets are rallying while the biggest names consolidate. That’s bullish.

The put-to-call ratio still looks a little overbought, but it’s a bull market. I’m not willing to bet against the trend because of one signal.

Friday’s are known for short squeezes and the market is primed for big moves in the small caps. I’m risk on.


*Low Float

*STRN is on watch
*NUZE is on watch
*RETO has support at $1.70
MULN has resistance at $14
EVGO has support at $18
ASTL has support at $12
SD has support at $14
COGT has support at $10
AGC has support at $16
LQDA is on watch
INDI has resistance at $14
BW has support at $9
CPRX is on watch
SFL has support at $9
FCEL has support at $11
COTY has resistance at $10.80

OTC stocks, no levels:

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