Nick Santiago – It’s PPT Rescue Friday

Financial Survival Network, Released on 5/14/21

1. Markets bounced yesterday gaining a bit back from Wednesday’s bloodbath decline. Today is a Friday so we always give the markets an upside bias on Friday. After the decline we saw earlier this week I would have to think that the central bankers do not want a sharp Friday decline for fear of a Black Monday event. Either way, stocks are higher today.

2. Dogecoin gets a blessing from Elon Musk. This comes after Tesla announced that they suspended vehicle purchases using Bitcoin. This guy seems to be manipulating the crypto market at will. Musk tweeted out that he is working with Dogecoin developers to “improve system transaction efficiency” and that the work was “potentially promising.”

Tesla (TSLA) stock is up by 1.56% this morning.

3. Gold/Silver gold futures up to 1835. Consolidating here. Nick closed out his gold position. Miners are looking. Silver is up 1.35% on the futures. SLV is up .18 right now. Precious metals looking very bullish.

4. Bitcoin got slammed but closed at support. It pierced its low 47k from 4-26 but closed above it at 48k. Now let’s see if it consolidates, which will indicate it’s getting ready to rollover. If price chops around it will continue its downturn.

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 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