It’s a short squeeze market ya know…
VRPX put on quite the show yesterday closing up over 250%. The low float and weak indexes provided the perfect storm.
Futures are pointing towards the third red open in a row. Losses thus far are minimal. I expect any big drop to be bought and for the indexes to post new records again. Just remember the indexes don’t tell the whole story.
60% of stocks are below their 50 day moving average, a bearish sign … nearly 40% are below the 200 day MA.
Bitcoin and the crypto rally are taking a breather, a decent amount of sideways action … Bull flag? The market cap for crypto reached $2 trillion a new record high.
I’m risk off today. I’m holding some crypto and will likely not trade barring the perfect A+ setup.
*VRPX is on watch
CRDL watching for a setup above $3
OTC (on watch, no levels):
DPLS, HPIL, PBYA, ILUS, AUNXF