1. As the markets fall today it is Bitcoin and the crypto currency story that is front and center. Bitcoin traded down to 30,205. Believe it or not, this level is the daily chart 200-day moving average. If this level fails to hold as support then Bitcoin is headed down to 21,000. After 21,000, 5,000 is a real possibility.
https://www.kitco.com/news/2021-05-19....
Either way, all of the major stock indexes are trading lower across the board. This usually does not happen during options expiration, but the markets are vulnerable to further declines as we move toward the second half of the year.
Markets are pulling back today. Is it real or options ex? We don't usually have crashes during options-ex.
2. Gold/Silver gold futures traded as low as 1854 and are now trading at 1884. Are crypto holders jumping into precious metals?
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.