Financial Survival Network, Released on 12/21/20

1. The markets are down big this morning. The catalyst for the decline is a new virus strain discovered in the UK.At this time, the markets were overbought and the sell off matches up with the Winter Solstice. Often, markets will change trend around equinoxes and solstices. We shall see if this is just short term or maybe more meaningful. Seasonality is usually favorable for more upside, but this is not a normal year. Volume is weak. Not overly concerned long term.

2. Financial stocks are on fire today. Last Friday, the Federal Reserve said that the bank stress tests were good enough that the banks could start to repurchase their own stock again. They can also start to increase dividends. So despite all the dire news this is very positive for the financial stocks today. JP Morgan Chase (JPM), Goldman Sachs (GS) and others are all trading sharply higher today. Thinking always gets in the way.

3. Market took a hit on Friday with the quadruple witching hour. It’s almost like somebody knew.

4. Gold/silver gold futures down $6.7. Gold was over $1900 in overnight trading. Silver was well over $27 . Gold is struggling to stay over $1900. Silver is having a decent day. Up 1.2%. Silver has been stronger gold for a while now. Just waiting for the bigger pattern

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.

  covid, covid mutation, new strain, nick santiago, stock market