June 7th premarket prep

Cypto Markets

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Right now BTC is the weakest of the crypto market and testing the low end of that triangle which is getting tight. I will be watching for a break down.

Note that ADA and ETH are showing great relative strength in this market so if we are going to reverse I am going to be watching those long.

Equty markets

New highs on the SPY are bullish for sure. But we need to be chill and make sure that we are not jumping the gun. Bull traps are common and can cause some real issues when they happen. I will be watching early this week to make sure we hold over those levels on a closing basis. https://www.investopedia.com/terms/b/bulltrap.asp — New highs on the SPY are bullish for sure. But we need to be chill and make sure that we are not jumping the gun. Bull traps are common and can cause some real issues when they happen.
I will be watching early this week to make sure we hold over those levels on a closing basis.

https://www.investopedia.com/terms/b/bulltrap.asp

This is a chart of Value (think retail, finance, energy) vs Growth (think EV stocks, Weed and crypto). Although there is a bounce in growth over the last few days the trend still remains so I will be watching closely to see if there are some good names that are “boring” and breaking out. — This is a chart of Value (think retail, finance, energy) vs Growth (think EV stocks, Weed and crypto).

Although there is a bounce in growth over the last few days the trend still remains so I will be watching closely to see if there are some good names that are “boring” and breaking out.

Stocks to watch

The reopening seems to be going smooth in the US so Madison square should be able to crank some of revenue. Holding over all the moving averages I watch I like the look of $MSGN

Still watching this name to see if we can get a bounce here. This one is wild so watch out but it might be that they reaction to the hedge fund blow up is in the past now.

ATNX has a massive short float of 18% and has been beaten up. If we get a bullish move into the gap there is a shot that those shorts will start to take their massive profits leading to a strong move into that gap.

Watchlists

VIR, ATNX, MSGN, DISCA

my Thoughts

Memes are still what to watch for this week. Watch the reaction to them along with what the market is doing in relation. If meme stocks break down will that cause the market to rally as people put profits into ETF’s?

PREMARKET update

Gappers to watch today

LMNL- New approval

AREC- boght another company

NEXT-

BLUE- High short float was watching long for a swing. watch for a pullback

SPY comments flat open so far at all time highs. Watch to see if we can make it through. Wait until then.