Market Notes:
The SPY ended the week Friday with the fifth consecutive red day. It closed at the lows of the day and is touching the support level that’s held up so well for months. Here’s the latest chart with the same line from last week:
Friday to Monday back-to-back red sessions are often indications of major turning points. Given that the market is at support a red day today would fulfill many prophecies. I’m not putting on a bear cap just yet, but I’m mindful of the situation … We’re due for a pullback.
Bitcoin is holding up well. Watching for the golden cross any day now. I remain bullish on this sector.
Despite today’s long list I’m going to remain risk off. The environment isn’t ideal and I’m happy to wait for better opportunities.
Watchlist:
*EEIQ is on watch
*SGMA has support at $8
*ENVB has resistance at $3.75
AEHR has resistance at $11
CEI has resistance at $1.60
OG is on watch
ATER watching for a setup above $13
HYZN has resistance at $11
BBIG has support at $10
RKLB has support at $18
MTTR has support at $18
ABUS is on watch
URG has resistance at $1.75
GSAT has resistance at $2.8
OTC (on watch, no levels):
LWLG, SRUUF, ILUS, RGBP, ISWH, PALAF, BBBT, ALID