Market Notes:
Leaders of the world are meeting in Scotland to talk about climate change. President Biden touted his $500+ billion in new spending to address the issue. But back home one Senator from West Virginia doesn’t want to get on board.
The market has priced in some sort of new government spending. A failure to pass the bill could cause a sell-off.
With the major indexes at all-time highs, there are plenty of bears sounding the alarm … But I’m not one of them.
Take a look at yesterday’s closes. Does anything stand out to you?
The Russell 2000 represents small caps, which led the way higher. And closed just shy of a record high. This tells me the market is craving risky stocks. It’s a super bullish sign.
Despite the uncertainty with the federal government the market is pointing higher. I’ll adjust when the market does … until then I’m risk on.
This morning futures are near flat as crypto is surging higher. Bull markets can run further and last longer than anyone thinks possible.
Watchlist:
*BBLG is on watch
*BGI has resistance at $8
*APRN has support at $9
IMMR has resistance at $9.50
IO has support at $2.50
CLSK has resistance at $22
IFRX has resistance at $5
IONQ has support at $14
DCRC is on watch
WTRH has resistance at $2
OCGN has support at $13
OTC, no levels:
AABB, INND, LIACF, APHLF, DEFTF, SMURF