Market Notes:
Turkey day is Thursday, the markets will be closed. Then just a half-day on Friday. Many institutions are taking the entire week off. So expect lighter volume and muted action.
That’s what one expects but futures are pointing towards a bullish run. Historically Thanksgiving week is a bullish week and the Monday that follow is weaker.
With more people taking the week off of work there are more retail traders getting in on the action. I’m paying special attention to low float stocks. When it comes down to it supply and demand rule all in the market.
Bitcoin, which has a limited supply, continues to dip. But it’s found support at the 50-day moving average. That’s typically a bullish sign. But time is running out for the December rally I’m watching for…
Futures are pointing towards a record high open on the SPY. The put-to-call ratio and RSI are indicating the market is overbought. But there is still likely more upside before any bigger dip. The market can stay overbought longer than you think.
I’m bullish and risk on.
Watchlist:
*TRT has support at $8
*LGVN is on watch
*LTRY I’ll buy at $7
*SEV is on watch
*YQ is on watch
*USIO has support at $7
*DOGZ watching for a setup above $5
SCYX has support at $7
KZR has resistance at $14
AUR has support at $15
PROG is on watch
ASTR is on watch
EGLX has support at $4
OTC Stocks, no levels:
OSCI, DPLS, HMBL