Watchlist: 8/4 Crypto Regulations are Good

Market Notes:

Bitcoin has retreated from its highs as the SEC asked Congress for tools to regulate the industry. While the falling price appears negative in the long run regulation means more adoption. I believe the news is bullish.

Stocks moved higher yesterday although large-caps are well above the rest of the market. More than 50% of stocks currently sit below their 50 day moving average.

I remain risk off. The perfect setup will get me off the bench…

Watchlist:

FLGC has support at $10
HOLI has resistance at $20
HLIT has support at $10
HOOD has support at $40

OTC (on watch, no levels):
NLST, NSAV, DRNG, LKNCY, KYNC, EEENF, CPSL

watchlist

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