1. The major stock indexes are basically flat today. This kind of move is common after a big rally like we saw yesterday. The bottom line, the central banks around the world are propping the markets up and they are not going to stop. It will take an event in the market for them to change course. I'm not sure what that event or catalyst will be, but it is coming. Last week, a major hedge fund blew up called Archegos, but the markets rallied. This tells me it will take something big.
2. Yesterday, Treasury Secretary Janet Yellen said she wants a minimum tax levy on corporations around the world in an effort to keep companies from relocating to find lower rates. She said, "together we can use a global minimum tax to make sure the global economy thrives based on a more level playing field in the taxation of multinational corporations, and spurs innovation, growth, and prosperity."
I think this move will kill competition. It sounds like the OPEC of taxes to me. Lower taxes could be gone forever if you ask me once this happens.
3. Gold/Silver "W" bottom, Nick's favorite chart pattern and almost certainly a definitive low. He's been teaching this pattern for years. Gold might be the new trade of the decade. Followed by silver? Gold peaked out in August 2020 and it's the most hated commodity. Everyone wants to be in Bitcoin.
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.