Picking Up The Pieced - Nick Santiago #325
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Description
1. Markets try to rebound from yesterday's bloodbath decline. Today, stocks are catching a bid after getting slaughtered yesterday. Yesterday's decline was led lower by the tech heavy NASDAQ Composite...
show moreCloud-software also was pounded yesterday as well. This is also a big industry group now and must be followed closely. Tech looks very top heavy right now and I would avoid this area of the market for longer term trades.
Spydr’s closed just above 100 day moving average. Beware if they take out 428.6. They’re okay for now but tech is under big selling pressure.
2. Precious metals are getting clobbered today. Silver is trading down the most, falling by 4.0%. The silver chart is very ugly right now and I will have to see how it looks by the end of the week.
3. Bitcoin/Cryptos are still living to fight another day. Still above pyschological levels. 40,000 is the number to watch for Bitcoin.
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Author | Kerry Lutz |
Organization | Kerry Lutz |
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