Financial Survival Network, Released on 7/23/21
1. Is the ‘Friday Effect” back?
This is where the markets seem to always rally on a Friday. This did not play out last week, but it seems that the ‘Friday Effect’ has not worked on the past two monthly options expirations (June & July options expiration). It looks to be in gear today.
2. Earnings season is underway.
Next week we get the big mega cap tech stocks reporting. Almost every trader in the world is waiting for this to happen. Apple (AAPL), Alphabet (GOOG), Microsoft (MSFT), Facebook (FB) & Amazon (AMZN) all report next week.
3. Robinhood IPO
Robinhood is the most highly anticipated IPO of the year. The company is expected to come public late next week. The ticker symbol for the stock will be HOOD.
Continued pattern of weakness. Hasn’t broken down yet.
Still getting slammed. Down by $8, under 1800. It’s been weak since June expiration. Miners are lagging metal, always a bad sign.
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.