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Monday, May 8, 2023

Market update $SPX, & The Next Meme Stock $MULN

 Monday looks slow due to the banking holiday in the UK. Makes me think, the market manipulation starts in London, which - if you go back to when oil contracts traded to 0 - makes sense. There's some fascinating historical evidence connecting the London bank, to the creation of the Federal Reserve banking system, and the $USD; for those who care to do some digging.   

The broader market continues to consolidate sideways, and that trend is likely going to continue for a while. In fact I think we're going to see plenty more flat days followed by more head-fakes (in either direction), and this could prove to be the death by a thousand cuts (trade) for most day traders. 

$SPX - had been trading (generally) in a range, between 4040, and the 3995 level for nearly a month. I couldn't really tell you which end of this range is going to be tested next, so ride the whipsaw at your own risk, and watch for a possible test of the 50 day moving average at some point.

Here's something you won't hear on CNBC 

The MULN Army Is Betting on the Next Meme Stock

I can't think of a time, when a Meme trade was called out ahead of time. 

This Mullen pump sounds like a lot of hype to me, but I've tweeted this name out more than once in the past, and the chart does look interesting here. 


That 10 cent price was calculated, before $MULN did a 25-1 reverse split, but the stock did take out that 10 cent target, trading to around .07.  

 Is $MULN the next meme stock? I highly doubt it, but I think it could easily double to $3. 

Take Care, AA 

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