1. Gold is getting hammered.Precious metals are all selling off this morning. The catalyst for the decline is clearly from the FOMC announcement yesterday. Even though the Federal Reserve is not actually tightening or doing anything yet, the jawboning was enough to scare the gold market.
2. Tech is strong again this morning.Most of the major stock indexes are declining lower today except for technology. The NASDAQ Composite is the strong index this morning trading up 0.34%. The tech heavy index will usually do well when the yields on the 10-year note pull back and that is the case today. The short term trend in tech is still higher.
3. Bitcoin and cryptos holding steady at lower levels.
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.