June 3rd premarket prep

Cypto Markets-

BTC (along with most other cryptos) is resting here under declining moving averages and making high lows and lower highs. We are forming a triangle here and I personally will be staying out until I see something change.
A lot of repair needs to be done before I consider a long play here.

Equty markets-

Scary close equal highs on the market. Before we can make any upside we need to take and maintain over those. In the short term yesterdays small candle gives us some indecision to play off of. I hint regardless of what happens next we are going to see a quick move.
Down a bit off the open so if we start selling watch for the primary trend line to see if it acts for support.

Using ARKK as a proxy for growth stocks in general (think TSLA names) here we are seeing that we might be running into some overhead resistance here.

Stocks to watch

ORTK giving a nice risk reward play.

Watchlists

• Trade-ideas: Paste price alerts

• Trendspider: Add new list

Thoughts….

The meme stocks are still back in play. Do not get FOMO. We all know how this ends. Its too dangerous to be long and too dangerous to be short these names here. Stick to your trading plan to find low risk names in order to play avoiding what you are reading online. Yes there are some that will make it big but most will not make it out in one piece.