Market Notes:
It’s the last day of the month. It’s Friday. An infrastructure bill is on the horizon. And Trevor Milton (founder of NKLA) is finally getting what’s coming to him. But all the good news in the world isn’t enough to boost the market it seems.
It’s summer and August is almost here. Traditionally August is the worst month of the year. Post-election year average for the SPY is -1.4% (Thanks Stock Traders Almanac!).
Yesterday the SPY touched intraday record highs but reversed into the close and continued falling after hours. Futures are down this morning.
Robinhood’s (HOOD) IPO was the worth on record for a company of its size. Second place is UBER in 2019.
Bitcoin still looks strong. The weekend will tell the tale. I’m still buying lightly at these levels.
I may buy an inverse ETF today. But I’ll remain risk off.
Watchlist:
*NTEC is on watch
*XBIO has support at $4.50
*AHT is on watch for volume
PFMT watching for a setup above $5
SXC has resistance at $8
NOK has support at $6
OTC (on watch, no levels):
NLST, NSAV, DPLS, ATRX