Financial Survival Network, Released on 4/23/21

1. Yesterday afternoon, the major stock indexes sold off after President Biden announced a major hike on the capital gains rate. The news reported in the media was for the capital gains rate increasing to 43.4% from the current 20% rate for people making over $1 million. That is a dramatic increase if it is implemented. We are really still waiting for more details, but it is safe to say taxes are going up.

Today, the major stock indexes are rebounding higher. So it looks like the tax hike fears have faded already. The trading volume is pretty light today so this is usually favorable for a buoyant to upside market. Plus today is a Friday and you know markets do not fall on Friday any longer. When this party ends it ain’t gonna be fun. Right now the trend is up and volume is very light.

2. Gold/Silver getting a pullback from the recent run-up. On 3-30-21 we were under $1700. Now we’re at resistance. GDX is coming off its lows. A little more consolidation. 80 percent tax on Bitcoin coming from the administration?

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.

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