1. Markets are stalling after a two-day short squeeze rally. This December has seen very volatile,  chaotic and unprecedented action for the month. Generally speaking, this is not healthy price movement and it warrants caution into the end of the year.

2. The omicron variant is now being viewed as mild. Originally, the day after Thanksgiving this variant was being hyped up like it was the mother of all variants. These big pharma guys like Pfizer (PFE) are saying a booster shot solves the issue. I find it ironic that a booster shot is the answer to all the issues. The big question is how many boosters will be required? 

3. Gold and silver are trying to bounce here, but the bounce looks weak for now. 

4. Bitcoin broke below the key 52,000 level. It is still holding above its 200-day moving average on the daily futures chart so it may recover by the end of the week. Either way, it looks weak now and a weekly close down here is a very negative sign for the popular crypto currency.

1. It was a rough week for technology. The NASDAQ Composite lost nearly 700 points this week. There are lots of tech names that are now in bear markets. Today, the Dow Jones Industrial Average (DIA) held up the best with a decline of just 40.00  points.  

2. The financial stocks are starting to show major weakness and if that sector goes there are bigger problems on the horizon. This week, every rally has been sold and that is another red flag for this bull market.  

3. Gold caught a bid today, but it has also been very weak recently. Gold needs to firm up on the charts before I could get bullish  in the near term. So today was a start. 

4. Bitcoin sold off today trading down by 6% to 53,500. Remember, the key bitcoin level is 52,000. As long as it stays above that it lives to fight another day. A weekly close below that level is a very negative indication for the popular crypto.

1. Up and down markets are now in play. Stocks are rebounding after yesterday's big selloff. Today is the start of the month and often the markets will see money flow back in at the beginning of the month. That seems to be what we are seeing right now. 

2. Earlier today, the ADP job report showed 534,000 new jobs. This was close to expectations. This Friday the non-farm payroll report will be released by the BLS and we will see how the market reacts to the numbers. The president's approval rating is at an all time low so they will certainly want a good number this time around. Remember, it's the market reaction that matters, not the actual number reported.

3. Gold/Silver has been slammed in the past week but today is up $13 so far. Look for more choppiness.

4. Bitcoin up 2 percent and is looking strong. As long it stays above $52k the trend.

1. Stocks are rebounding a little after the Black Friday Collapse. There was some serious damage done on Friday and the chart pattern this week will be critical for traders and investors.  

2. Bitcoin is also catching a big bid today as well. The popular crypto was hammered last week especially on Friday. As long as it stays above the 52,000 area there is nothing wrong. That level is key to hold for the Bitcoin futures chart.

3. Jack Dorsey is stepping down from Twitter (TWTR). He is still the CEO of Square (SQ). So maybe he is taking a break from the dual CEO role he has been playing.

4. Gold is still struggling here. I think the $1765.00 level is the near term downside target.

1. Markets are having a tough week since the Monday reversal selloff. Tech has been under pressure the most and that could be the case going forward. As bond yields move higher in the 10-year note more investors flee from the technology sector. 

Seasonality trends are generally bullish from Thanksgiving to the New Year, but this time around traders will have to be careful and very selective into the end of the year. Perhaps, tapering is tightening after all. 

2. Gold and silver have been under heavy selling pressure as the U.S. Dollar Index (DXY) has strengthened. A strong dollar will usually bring commodity prices down as they are all traded in dollars. 

3. Earlier today, the Weekly Initial Claims report reported just 199,000 new claims. The expectations were for 265,000 so this was better than expected. While this was the lowest number since November 1969 it does not seem like the market really cares at this time. All eyes are on the current Fed tapering and potential rate hikes down the road.

1. President Biden renominates Fed Chairman Jay Powell for another term. This morning, President Biden renominated Fed Chairman Jay Powell to another term. Many investors and traders thought he was going to nominate Lael Brainard to the position as she is very far left. He did nominate Dr. Lael Brainard to serve as Vice Chair of the Board of Governors of the Federal Reserve System. Gold sold off sharply after the announcement as Powell is the more hawkish of the two nominees. Holiday trading week. Euphoria continues.

2. Stocks are in rally mode this morning. The catalyst for the move higher is due to the Jay Powell nomination. Obviously, the stock market is looking at this nomination as a relief choice since Powell is the person in charge of the QE tapering. To his credit he has been able to keep stocks elevated without any panics.

3. Bitcoin has stalled out a bit today, but as long as it stays above the $52,000.00 level it is fine. A close below that key support area would spell real trouble. 

4. Gold taking a big hit, down 2 percent. Nick had been warning of a pullback once gold hit 1860 and is now pulling back, as expected. Below $1760 is a key support level.

1. Today is 'Whipsaw Wednesday' and this is usually the most choppy session of the week before options expiration Friday. Rallies will often fade and sell-offs will usually recover with big bounces. Get ready for a day of chop. So far, this week's action in the market looks to be just a lot of options expiration related action and game playing by the institutional crowd. 

2. Gold (GLD) and silver (SLV) are both rebounding today from yesterday's decline. Right now, the precious metals are holding up well and more range bound consolidation will signal another move higher. At the moment, gold is still into its resistance area. Silver trading back above its neckline, which is highly positive.

3. Visa (V) is down over 5% on news that Amazon.com (AMZN) will stop accepting Visa credit cards in the UK next year due to high transaction fees. This is important because this could start to happen elsewhere and begin a new trend. MasterCard (MA) is also down in sympathy.  A sign of Amazon’s pricing power.

4. Bitcoin coming under some pressure now. It made a big move, tried to get to 70k and now it has pulled back. It appears to be a natural consolidation. If it loses 52k, trouble could be ahead.

1. Its That Time Of The Month- Options expiration for November is this Friday. This tells me that this will likely be a week of institutional game playing with many of the popular stocks. Traders should watch for lots of rumors (mostly false), ridiculous upgrades and down-grades, and even some wild geopolitical events. Stocks that are in the stratosphere will often pullback and stocks in the gutter will often see bounces. 

2. Tesla (TSLA) is a market leader that is trading lower today due to news that Elon Musk is selling stock. This weekend I think he asked his followers on Twitter if he should sell more.  Today, the stock is trading down by 4%. This is not surprising  to me since options ex is this Friday.    

3. Gold and silver are pulling back today to start the week. Bitcoin is up a little.

1. Markets ended higher again. I call this the Friday effect. Consumer sentiment plunged to 66.8, lowest level in 10 years. Volume remains light. It’s the reverse of the way it used to be before 2009. It’s options ex and bonus time is right around the corner. Beware.

2. Gold/Silver Silver reverse head and sholders means happy days are here again for silver bugs. Next week is options ex so beware, metals have been getting. Nick’s $1860 level was met and exceeded. Can it continue or is it over-bought? Patterns are positive. $1875-1880 is a key point and if it triggers, new all time highs in the offing. The patterns unfold.

3. Bitcoin down 1 percent after making new alltime high. 70k or bust.

https://inthemoneystocks.com/silver-could-trigger-a-big-inverse-hs-pattern-today/


1. Stocks are holding up well today. It's another quiet session, but there are certainly stocks that are moving. Tesla (TSLA) is trading lower by 3.8% after Elon Musk put a poll out on his Twitter feed asking if he should sell 10% of his Tesla stock. This guy is the ultimate showman and certainly knows how to get a rise out of the Twitterverse.

2. EV maker, Rivian Motors (RIVN), is expected to go public this week at a valuation of $65 billion. Here is another IPO that is being pushed out while the easy money is still available. This company is backed by Amazon (AMZN) and Ford (F), but $65 billion is a complete joke and often marks the sign of a market top shortly down the road. 

3. Bitcoin is testing the recent highs today. Everyone is excited about this De-fi. Apparently, this decentralized finance is where the crypto market will start to build financial applications like lending and trading on the blockchain.  

4. Gold/Silver had a nice rise on Friday and further consolidating today. We could see 1860 gold shortly. Just wait, things are setting up.