Widgetized Section

Go to Admin » Appearance » Widgets » and move Gabfire Widget: Social into that MastheadOverlay zone

Nick Santiago: Major Stock Market Sell-Off Underway?

Financial Survival Network, Released on 5/4/21

1. The major stock indexes are under some early pressure today. Technology stocks are falling the most to start the session. The decline is somewhat broad-based, but it will be important to see where we finish the day. Remember, it’s not how the market opens, but more important how it closes. Let’s see what the volume looks like. Right it’s ticking up. Markets are on borrowed time. Archegos led to the market being saved. It sent markets nominally higher and put off the inevitable.

Amazon (AMZN) is falling again, the stock is continuing to decline from it’s earnings announcement late last week. As a rule, when the mega-cap stocks fall you better follow it as it will often have a much larger effect on the overall markets. Apple is down over 3% today and about to break its 100 day moving average. Watch the megacap stocks. They hold up the markets. Semiconductors are getting killed.

Anything that goes up and has a parabolic run-up is going to get slammed.

2. Gold/Silver gold futures were weak overnight are up $2 on the day. Silver futures are positive trading at $27. Nick closed his GDX call options with a 29% gain.

3. Tesla on sale now for Bitcoin. May be a very good use of your crypto. Even Elon Musk took profits. Watch the charts.

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.

Notify of
Inline Feedbacks
View all comments