Market Notes:
One of the biggest investments in America’s infrastructure has been signed into law by President Biden. The bipartisan bill is the first of its kind in more than a decade. New spending is expected to exceed $1.2 trillion.
The market’s reaction has been muted. The market closed flat yesterday and futures are near flat as they drift lower this morning.
One sector that is absolutely spiking right now is semiconductors. TRT, MRAM, and INDI are my top watches on that front.
The most notable price action at the moment is in the crypto sector. Bitcoin dipped below $60,000 for the first time this month. The crypto market cap is down $400 billion from its peak last week.
I remain steadfastly bullish on the crypto market. Dips happen. The fundamental case for bitcoin hasn’t changed. And seasonal trends point to another month of gains.
As the old saying goes … “Buy the rumor, sell the news.” The signing of the infrastructure bill is the news, I’m waiting for the next hot trends to emerge.
I’m risk on for perfect setups.
Watchlist:
*TRT is on watch
*STRN has resistance at $6
*RETO has support at $1.80
*MRAM is on watch
COCO has support at $17
KZR is on watch
INDI is on watch
DCRC has support at $14
VUZI has resistance at $15
GGPI is on watch
VGR has support at $16
ACB has support at $8
COTY has resistance at $11
OTC stocks, no levels:
LIACF, OZSC, DPLS
