Market Notes:
As earnings season rolls on the misses are being punished more than the beats rewarded. ETSY, GM, UBER, ROKU are all trading lower this week.
HOOD took the market by storm, with a major short squeeze at the open yesterday making it the latest great meme stock. Robinhood users reported trading restrictions … oh the irony.
Bitcoin still looking bullish above the 200 and 50 day moving averages. The first regulations are coming in the bipartisan infrastructure bill … I believe this is a bullish development. Yes, I’m long.
60% of stocks are trading below their 50 day moving average. The market is weaker than the indexes show. I’m risk off, but once again the perfect setup will get me off the bench … Like BTBT did yesterday.
Watchlist:
*VRAR has resistance at $10
*SNMP has resistance at $1.80
ROVR has support at $13
BTBT is on watch
HOOD is on watch
OTC (on watch, no levels):
NLST, NSAV, DRNG, LKNCY, KYNC, EEENF, CPSL, CYBL
