Wednesday, May 6, 2020

Today's Watchlist: 5/6 Stabilizing Markets

Market Notes:

The Fed continues to maneuver to support the markets. The VIX continues to fall nearing 30 in a positive sign for the bulls.

Oil keeps moving up, also a good sign for the bulls.

Markets opened up yesterday and held the gains most of the day but slipped right near the close, you can pick a reason if you want but there was no major event driving the selling.

Bitcoin is holding above $9,000 this morning as Argentina is slipping into crisis. Still watching for a breakout above $10,500 before I buy again.

Futures are positive this morning, I'm still bullish. Always ready to have my mind changed.

Watchlist:

LPTH is a multi-day lowish float runner, resistance at $2.60

TORC is a lowish float, watching for a setup above $1.80

NLS is a lowish float in consolidation, watching for a breakout above $6.75ish

PRTS another lowish float, resistance is at $3.75

CWBR is moving on light volume with COVID-19 news, watching for a setup above $4

VRML on watch for a continuation

MVIS still going crazy on with rumors flying, key resistance in the $1.80s


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