Market Notes:
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.
Watchlist:
*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
