Watchlist: 12/17 Bitcoin, Stimulus, Free Money, IPOs

Market Notes:

Bitcoin is trading near all-time highs leaving $20,000 in the dust yesterday. The breakout happened exactly 3 years after the 2017 bull run peaked. Price is sitting near $22,500 at writing. I don’t have a position currently, price target would be 2x the 50 day SMA if I did.

Congress is “getting closer” to a stimulus deal. Free money for everyone is back on the table. We’ve heard this one before.

The Fed stated it would continue buying as long as it needed to. It currently pumps about $120 billion into the financial system every month.

IPOs aren’t done for the year yet. The unicorn bubble doesn’t seem ready to pop. I’m watching OCG and SCPS this morning. WISH, UPST, MDWT are other notables for the week.

Futures are up. Could set new records today!

Watchlist:

*Low Float

*NPA has resistance at $11.50

*FAMI has resistance in the $1.60s, support in the $1.20s

*SGBX has resistance at $4

*SCPS is on watch

*OAC has resistance at $12.50

*FNKO has support at $11.30

*OIIM watching for a setup above $8

*OCG is on watch

*EQOS watching for a setup above $10

NXTD is on watch

VUZI has support at $6.15

RRD watching for a setup above $2

CALA has support at $5.78

SCLA has support at $7

ORBC has support at $7

ARAY has resistance at $4.80

PRTY has resistance at $6

MDXG has support at $7.35

MNKD is on watch

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