Tapering, hawkish … it’s a scary time in the market. The Fed’s $120 billion per month bond purchases could be reduced as soon as next month. Could the economy survive with only $110 billion in freshly printed bills per month?
Traditionally August is the worst month for stocks. The August expiration is tomorrow and unemployment numbers have yet to be released … The market hates uncertainty, and right now there’s a perfect storm to drive the market lower. How much remains to be seen. At this moment I believe the bull trend is intact but … Anything can happen.
The crypto market remains strong. In a risk on market like this is usually safe to buy the dip.
I’m being extremely selective. I’m not planning to take on any real risk until Monday at the earliest.
*PMCB has support at $10
*GRVI has resistance at $7
*XAIR has resistance at $9
*KXIN has resistance at $18
OTC (on watch, no levels):
NLST, DPLS, HPIL, PBYA, ILUS, MMNFF, AUNXF