Financial Survival Network, Released on 7/14/20

1. Markets reverse sharply lower yesterday afternoon after California Governor Newsom closed indoor businesses. This news sent the markets tumbling late in the session yesterday. Remember, the state of California is the 5th largest economy in the world. This type of thing happens every options expiration.

2. Bank earnings are starting to be reported. Earlier today, JPM, WFC and C all reported earnings. I really don’t care what the company says, but the reaction in the stock is what matters. The financial stocks have been market laggards since June 8th, 2020. JPM and Goldman are the most important names to watch in the sector. Nick is looking

3. Gold and Silver flat day in gold and silver in futures and spot is higher. Nick responds to a troll and points out that he’s well up on Gold and Silver so far this year on the GDX and SLV.

4. Russell 2000 up and money is flowing from the Nasdaq into energy. Refiners are up and oil services are up 4%. Consumer goods stocks are seeing money flowing in. Telecoms are up. Retail stocks are also catching a bid. CAT is up 3%, John Deere up and Honeywell also up. You need to take a broad stance.

5. July volume hasn’t been sluggish so far. No summer doldrums yet. It’s going to be a very volatile high volume year. Anytime you see a sell-off on high volume it’s time to be wary. If it’s at a new high then look for a follow-through.

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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