Market Notes:
As we ride this dip I noticed something important. When my analysis grew bearish I’m unwilling to place a bearish bet. The fact that the Fed’s still buying and Powell’s speeches tend to calm the market had an influence.
But when I listened to the bulls (it’s always good to hear out the other side) they were making bullish bets.
When it comes down to it the market is buyers and sellers. It’s not a support level or RSI or MACD. It’s the buyers and sellers that move the market. The bulls appear more aggressive at this point … Though I’m not jumping in heavy yet.
This morning a decent volume spike at 5:08 AM is punching the indexes higher. I’m waiting until October to turn truly bullish.
There are signs of risk-on behavior in the OTC and listed stocks.
Plus Bitcoin is back above those critical 50 and 200 day moving averages. BTW I’m still hodling and buying.
I’m risk off today and taking the day off tomorrow. Look for my latest next watchlist on Monday 9/28.
Watchlist:
*EEIQ has resistance at $8
*AMHC is on watch
*LIFE has resistance at $12
*APRN watching for a setup above $6
AEHR watching for a setup above $12
ATER has resistance at $20
ARQQ is on watch
SPIR watching for a setup above $18
CLS has resistance at $9.50
DVAX has resistance at $20
MTNB has support at $1.30
OTC (on watch, no levels):
ILUS, ISWH, CYDY, AAPT, TGGI, AXTG, CYBL, FERN, SFOR, PJET, BTEGF
