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Gold Is Doing The Dance - Nick Santiago 11-13-2020 #159

Gold Is Doing The Dance - Nick Santiago 11-13-2020  #159
Nov 13, 2020 · 8m 42s

1. Markets are holding up well this morning. But we must remember, it is not how they open but how they close. Energy stocks, financial stocks and retail stocks are...

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1. Markets are holding up well this morning. But we must remember, it is not how they open but how they close. Energy stocks, financial stocks and retail stocks are all participating so far today. The trading volume looks light in the SPY, so that usually means it's going to be a buoyant market. Russell 2000 is up 1.6%, it’s showing leadership. Broader market is participating. Election is not affecting the markets right now, it understands that the outcome is currently uncertain. A Biden win could be bad for all energy stocks. Maybe good for ev’s and solar/green energy scams.

2. Last night, we had earnings reports from Cisco Systems (CSCO) and Applied Materials. These stocks are both trading nicely higher today and that could be helping the tech sector today. 

3. Gold and silver are doing the dance, up bigly today. GLD up 1.54, gold futures up over $17. Silver is up as well SLV up 1.9 and futures up 2%. We’ll see about follow through next week. Nick calls it a cha-cha range. Could sell-off again.
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