Financial Survival Network, Released on 1/6/21

1. Markets started the day mixed after the Georgia run-off election results are likely favoring the Democrats. Right after the opening bell the major stock indexes started to rally. The Dow Jones Industrial Average (DIA), Russell 2000 (IWM) and the S&P 500 Index (SPY) are all sharply higher now. The tech heavy NASDAQ Composite (QQQ, XLK) is still negative , but well off the lows of the day. Russell up 3%. Markets are liking what they’re seeing.

2. Volatility is heading upwards. VIX had a big move but has come back down. Be prepared for numerous spikes. We’re still in the January effect. Volume spiked on Spiders on the downside but there was no follow-through. Start watching the charts very closely. Look at the important sectors for problems, ie, tech, Fangs, hot ipo’s etc. The dash for trash.

3. Gold/silver had a great move. We’ll see where it plays out from here. Will the markets turnover and turn on gold. Patterns are tricky in January.

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.

  economy, investing, nick santiago, stock market, trading