History Repeats Itself and So Do the Charts with Nick Santiago (Ep #70)

from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends. Today we discuss:

1. Markets are starting out a little on the weaker side today. This is common after a big Monday advance like we saw yesterday. There could be some more backing and filling throughout the rest of the week.

2. There is a lot of talk today that Miami-Dade is closing restaurants and gyms due to the virus. Melbourne, Australia also ordered a six week stay at home lockdown. Its this type of news that causes fear, but if the markets shrug it off that is bullish. As a rule, when markets react positively despite bad news, that is the market’s way of talking to you.

3. TSLA has gone parabolic. The move is probably over for now. The trend is still up but now it’s time for consolidation. The shorts have been slaughtered, but are holding tight. The big ones are still in it, but for how long. This is a market darling. They always end the same way. History repeats itself and so do the charts.

4. Gold and silver. No stopping gold and silver right now. We’re over $1800 on the futures. Silver getting close to $18.50. We had an upside reversal. It’s quite understandable why they’re going up now. Right now we’re creeping higher. The move is not over by any stretch.

5. Watching energy. Sold out of Hyatt and LV Sands with nice profits on both. Is flying starting to take off? This is a wake up call for the airlines. Airlines are on the radar. Same with hotels.

For more info, go to www.InTheMoneyStocks.com.

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