On The “Recovery” Trail - Nick Santiago 10-5-20 #131
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Description
1. Markets are starting the week higher. today's rally is being led by the Russell 2000 Index (IWM, RUT). It is important to remember, the Russell 2000 Index represents small...
show more2. On Friday, the tech heavy NASDAQ Composite and NASDAQ 100 were crushed. They were both down by more than 2.0%. Fortunately, money came out of tech and went into many other leading areas of the market. Financial stocks, industrial stock, and even energy stocks rallied ahead of the weekend. As I have stated before, if money leaves tech and starts to go into other areas it is a major positive. We call that a broadening of the market. Either way, expect choppiness into the election.
3. Gold and silver are up. Seasonal indicators are all up. Historically Q4 is very bullish. ABC pattern could take gold futures to $mmmmm2800!
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Organization | Kerry Lutz |
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