Market Notes:
While the data is still early the market likes what it’s hearing. Dr. Fauci told us that “early reports suggest that Omicron might result in less severe infections.”
One health official in South Africa stated that the new variant might be a blessing in disguise. He called the low hospitalization rates “a silver lining” and suggested, “this may signal the end of Covid-19.”
The market rallied strong yesterday with the Dow and Russell 2000 rising about 2% each. This morning futures are pointing towards a very bullish open.
The second half of December is typically very bullish. With the Omicron scare fading there’s nothing in the way of the “Santa Rally” (general end-of-year stock surge) and “January Effect” (where small caps outperform large caps).
The VIX is low. The Put-to-call ratio still shows we are oversold. I’m super bullish again. Watching for ideal setups with a risk-on mentality.
Watchlist:
*ISIG is on watch
*CPIX has support at $5.50
*APRN has support at $12
PLIN has support at $2.20
AHI has resistance at $6
DNUT has resistance at $16
LWLG has support at $15.50
OTC Stock, no levels:
OWUV, BHAT, ILUS