FRIDAY FESTIVITIES START IN 30 MINUTES
Your Friday morning power hour starts at 10:30AM EST.
There’s no better way to kickstart the weekend than with some extra cash.
Which is why I’m going live on air to show you how to make money for tonight’s shenanigans!
So please join me on Money Morning LIVE in half an hour so we can take advantage of the morning market together.
Click here to go to the room.
PENNY HAWK HIGHLIGHT: IWC
As Penny Hawks, one of the indices we want to watch is the iShares Micro-Cap ETF (NYSE: IWC).
The IWC is the largest micro-cap ETF.
Although it doesn’t track the OTC markets, we can use it to gauge the temperature of the “risk on” trade.
Basically, the IWC helps us determine whether more buyers will enter the market.
Right now, it’s showing us that a potential bull rally breakout is around the corner.
Which is why today I’m going to show you how to watch this index from a technical viewpoint.
LET’S GET TECHNICAL
IWC shares have been seeing lighter volume as the index approaches its 50-day moving average.
This indicates that traders are on hold ahead of the shift into September trading. We will see a volume increase in September as the summer months come to a close and volatility starts to play a hand in the market.
As I’ve pointed out over the last few weeks, September trading is often more volatile for the S&P 500 and other broad market indices.
But the IWC actually sees a positive seasonality trend in September.
The positive volatility may be attributed to the fact that speculators are often early movers when it comes to buying, suggesting that we should see some interesting activity around the 50-day moving average over the next few weeks.
A close above the 50-day would be the first since June, just as the index kicked-off a 7% rally in just over a week of trading.
You know, the OTC market isn’t the only market I trade.
If you’re also interested in trading the overall stock market and taking advantage of every single technical trend available… then you may be interested in the Night Trader trading research service.
If you’ve seen me on Money Morning LIVE, you’ve probably heard the Night Traders discussing some of our official trades and side trades.
Believe me when I say there’s plenty of opportunity in other stocks – not just OTC stocks – for you to profit from.
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Until next time,
August 27 2021