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7/20/21 - Coin toss on which way we go today


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Markets gap up in post market yesterday, but starting to pullback a little bit in pre market today. Remember that fear in the markets is much stronger than greed so we could see a continuation of yesterday's selling.

Having said that a lot of stocks gapped down to support yesterday so we could potentially see some bounces and opportunities to make money as well. Give the market some time to play out though.

Bitcoin goes below $30k, likely some pain ahead as next support level is not until mid $20k range. Now is a good buying opportunity but would not recommend too much of your portfolio be in bitcoin and crypto just yet.

Earnings season continues across various industries, however with the US10Y sliding investors are likely going to err on the side of caution as the 10Y is generally a sign of how the Fed sees the economy's strength (higher yield -> stronger economy and vice versa). 

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Let's TradeBy Derek Hutson