After last week’s breakdown, the markets are pointing to a lower open. A decent move too more than 1%.
Support gave out last week. This morning the VIX broke out to the high side which favors the bears. Headlines are pointing towards problems in China’s real estate sector. But don’t forget … It’s seasonal and we are due for a correction.
I’m sitting on the sidelines and waiting this out. No need to risk anything on this seasonal play. My hope is we continue to sell-off into next month and have the perfect setup to close the year on a high note.
Watching crypto markets this morning not showing much bullish actively there either. The only market I saw on the rise is precision metals. Gold and Silver futures are positive this morning.
Be safe out there. Likely no trade for me.
*PRTH has support at $7
*APRE has support at $6
CEI is on watch
CRVS has support at $5
PACE has support at $10.50
ROVR has resistance at $15
IPHA is on watch
OSUR has support at $12.50
SPIR has resistance at $13
OTC (on watch, no levels):
SRUUF, ILUS, ISWH, LWLG, CYDY, ARBKF