Indexes continue to rally, but participation is low. Low volume means the rally isn’t likely to stick once volume picks back up. Although there is still wind in the sails of bulls. So I’m not calling the top … I just don’t trust the rally.
Most stocks remain in bearish territory.
Today all eyes are on the virtual Jackson Hole meeting. Everyone seems to be calling for a hawkish move. Fed Chair Powell speaks at 10. I’ll avoid any large positions.
Bitcoin is stable going into the weekend. The trend still looks bullish to me.
OTC (on watch, no levels):
PBYA, RGBP, DPLS, ILUS, NSAV, OZSC, TPTW, LCLP