Market Notes:
After weeks of “inflation fears,” the stock market had a strong rally yesterday. It appears those fears have magically disappeared… Gimme a break they never existed… Bond markets were steady the whole time. Don’t listen to the talking heads…
The VIX dropped back below 20, a positive sign for the bulls.
Oil is holding up well going into summer and even gold looks bullish.
Bitcoin is holding up above its 200 day moving average. Lots of positive news on that front… Elon Musk is reconsidering, GS called in “investable” and a famous hedge fund said it’s in Bitcoin. It’s almost like someone wanted crypto prices to crash and now is boosting it up.
I remain risk off but good volume and the right pattern are still tradable.
Watchlist:
*RCON has support at $10
AGS has resistance at $11
PANL has support at $4
GTX has support at $7
VSTM watching for a setup above $4
OTC (on watch, no levels):
HTZGQ, TAWNF, GGII, HMBL, ABML, MJWL, TUEM, AABB, FBCD, MRMD
