June 11th premarket prep

Cypto Markets

After that strong move yesterday we have touched the 20 EMA and the downtrending line and rejected. A break of this line could give us some more short term strength but I would be worried about the declining 200 day MA overhead.

Seems like we might be seeing a rotation out of the alt coins into the main coin (BTC). ETH is looking like a break of this up trending line might get is right to the 200 day moving average.

Mother of all symmetrical triangles here on DOGE. A break either way could give a very large move. I am not able to short his one but maybe someone out there can.

Equty markets

After about a week of bumping our heads at this resistance area we finally made I through. Tomorrow will be a big day technically as it will be a Friday after a big break. Do the bulls have the stones to buy all time highs into a weekend?

Huge bounce in the growth names here which is what got us through that level. It might be time for the more fun stocks like EV’s and weed to finally get moving. This is good news for us swing traders as they are much more profitable when they work.

Matching with that growth v value chart above both XLB and XLF look like they might be putting in topping patterns. This would be bad for value names like banks and builders.

XLC (communications) is looking very strong here. Some of these names can be more boring ones but some can been growth names like FB for example looks like this could join this one.

A huge blow to the meme names today. All seeing hard but none as hard and the leader GME. I think that name might die here and they would switch focus to AMC.

Stocks to watch

BMBL has been hammered since this IPO with no real reason to get involved but might be putting in this higher low after the 8/20 Cross (Common short term momo indicator) Watching over $48.5 and wrong under $43.5

MRSN has a very long declining wedge going on here and looks like it might have found some support. Needs to break these recent highs around 15-15.5$

PRLD finding support at here at $30 with a 25% short float. This name has been cut into third. So a small bounce could be a nice % gain.

Disclosure: I am an investor in MNMD and have been for a while. However I might trade this in another account or use this as an excuse to add.
We broke out over highs a few days back and have put in 3 indecision candles. Over this are of confusion we have a chance to move.

DASH is heavily shorted name and has sold since its IPO. Putting in a potential invest head and shoulders for a bottoming formation.
Going to watch $150 closely.

HRB is a super strong name knocking its head at $26 over this it might continue to very strong trend.

Watchlists

• TLIS, BMBL, MRSN, MNMD, PRLD, DASH, HRB, FB

my Thoughts

Tomorrow will be a big day. We broke the over head resistance today and growth had broken out. If the bulls are going to buy over this resistance into the weekend we could get a very large move.

A failure from this level could be very nasty.

PREMARKET update

This gap up in the SPY is very bullish considering the fact that we broke that support level yesterday. But as we know its the closing price thats important.

PGEN was awesome for us so thats goign to be a nice Friday win. Not seeing to much else in the gapper list today.