Nick Santiago: Summer Doldrums Come Early

Financial Survival Network, Released on 6/25/21

1. Markets have recovered from last week’s selloff. All of the major stock indexes have staged a rally this week. The catalyst for the move higher has really been due to the Federal reserve walking back their taper talk. As we know, they are buying $120 billion a month of Mortgage backed securities, U.S. Treasuries and corporate bonds. Volume has been extremely low, the summer doldrums have come early. Favors upside markets.

2. Bitcoin is dipping again this morning. The popular crypto currency is once again flirting with its 200-day moving average. This support level is now minor and anyone that watches charts knows that the pattern is weak. It’s hanging on by a shoestring if you ask me. 200 moving average is now a minor low. If it pierces it’s 28000+ recent low we’ll see it really.

3. Gold/Silver Nick’s not crazy about the pattern gold has been making. It’s going sideways. It was hammered on back to back days. It’s going to have to break 1826 to set up for a long term

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.

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