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Assessment: Bulls seem to be on vacation this week. DKNG took a hit as expected, major support pivot calculated at $25.75. Big candle on Penn, opened around $29 and closed $27…guess people wonder if PENN is just a fuckup with how they operated Barstool Sportsbook and whether they can make this ESPN deal work now. We shall see!
Overall, bears showing more the past week than they have in any of the past three months, but the bulls are holding the line. No panic at all despite the selling as the VIX is holding around 15. We need to break 20 as a sign the bulls are getting nervous.
Good luck in your trades!