Yesterday’s session was a little odd. Everything that was flying earlier in the year bounced. Many giving a buy signal with a bullish engulfing pattern.
I’m not rushing to buy anything just yet. But the signal was bullish for the market too, a slight shift that could point to a risk on mindset.
Shipping stocks were among the biggest winners and the clear hottest sector. But these stocks have a history of failed spikes over the past year. So I’m staying risk off today and keeping position size small.
Bitcoin is slipping, I’m watching for support at $50K. A dip below that could signal a deeper rut.
Futures are down, I’m cautiously bullish.
DSCR has support at $0.014
IPSI has support at $0.16
MRTMF has support at $0.16
NGTF has support at $0.45
HTZGQ has resistance at $2