Financial Survival Network, Released on 7/22/21
1. Markets are pausing today, but have recovered from the Monday sell-off. Every trader should be in extreme caution mode. The Russell 2000 has been very weak. It was about to break down and then came back like Lazarus.
2. More money rotation today. We continue in a hot potato market. This means that money keeps going from one area to another area. From energy to tech to leisure. On any given day one industry is hot and another is down. Things may look good on the surface, but when you take a peak under the hood, there’s a darker story.
3. Bitcoin on Tuesday traded below 30k. Not it’s back over 32k. Thank you Elon and Jack. Musk likes Ethereum. It’s below all its moving averages. Has taken out its pivot low. Slingshot down to 21k. Afterwards it’s 6k.
4. Gold/Silver bad action in the metals. Miners have been lagging the gold price. More downside to come. Ultimately another tremendous buying opportunity.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He successfully managed money for a large, affluent private client group. Nick is an expert in Technical Analysis. He is a highly regarded and accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. After applying his knowledge to his client base and meeting his personal monetary goals, he decided it was time to begin teaching those interested in learning his trading and investing methodology. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.com and realize his dream of educating others about the truth of the markets. He now co-heads the education department at InTheMoneyStocks and enlightens thousands of members, along with providing consulting services to hedge funds and institutions.