1. Tech under pressure. This morning, the tech heavy NASDAQ Composite and NASDAQ-100 (QQQ) are under some selling pressure to start the trading week. Leading tech stocks like Alphabet (GOOG), Apple (AAPL), Facebook (FB) Amazon.com (AMZN) and many others are trading down sharply. The catalyst for the decline is the pop in yields on the 10-year note. Anytime yields tick up it looks like tech falls. Remember, ultimately yields have a lot of upside potential aso tech should be avoided for long term trades. 

2.   Natural gas is on fire again today. It is testing the highs from last week. The fundamental picture is still very bullish going forward, but the chart is still extended on the larger time-frames. Either way, this is a very strong move today for the commodity. Natgas options are a potential black swan call.

3. Bitcoin is hanging in. Cryptos are very technical. BTC held 40k and that’s a key number.

4. Gold/Silver gold had a great reversal today, $10 on the futures. Silver futures up as well. Gold minners up nearly 2 percent on the GDX and over 2 percent on GDXJ.

1. Stocks had a tough September - The markets have had a rough September. Almost every day over the past two weeks the market gave up their early gains. This is the running theme now especially for the tech sector. Remember, tech stocks are generally weak in a rising interest rate environment.  

This is a Friday, so in the past this year most Friday's will get defended. I call this the 'Friday Effect'. Many traders and investors are expecting the markets to continue lower as a correction seems to be underway. So trade cautiously, but I think there is a good chance of a bounce today. 

2. Cryptos are catching a big bid higher today. I'm not sure of the catalyst that is lifting them, but it never breached that important 40,000 support level. Either way, it lives to fight another day and is acting well today. Remember September 7th. Sideways consolidation is needed to break 50k and get out of the bearish pattern it has been in.

3. It was announced earlier today that Merch (MRK) has a new therapeutic for late stage covid that is effective. This is not good news for the vaccine makers like Moderna (MRNA) and Biontech (BNTX). This new drug is expected to receive emergency use authorization by the FDA.   

4. Gold/Silver Both gold and silver were down 9/29 and yesterday caught a monster bid and they’re both heading higher. Nick owns $SLV. Very good move.

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 and NASDAQ-100. The semiconductor sector (SMH) was hit particularly hard. This important industry group carries a lot of weight in the market and I view it as the most important group in tech. Yesterday was a 90 percent day, 90% of the issues were down. Semi conductors need to be followed. More money rotation out of tech.

Cloud-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.

1. Money Rotation Today As yields on the 10-year note start to perk up towards the 1.5% level we see money leaving the tech stocks. Stocks like Apple (AAPL), Amazon (AMZN), Alphabet (GOOG), and many others are all selling off today. Big cap tech hates higher interest rates. 

The strength in the market today is in the small cap stocks. The Russell 2000 index (IWM) is up 1.3% today. Small cap stocks perform better in a higher rate environment. There is also strength in the Financial, energy and retail sectors today. 

The market has climbed the wall of worry and couldn’t care less about the fact that transitory inflation is here to stay. There’s no tapering going on and there’s tons of money chugging around the system.

2 Bitcoin/Cryptos are holding up extremely well despite China’s attacks. It’s held the level so far for now. The more a level is tested, the weaker it becomes. And you could be seeing that and if it breaks $40k look out below.

3 Gold/Silver Gold started out strong and rolled over. Silver is having a good day. Futures are up a little over 1%.

4 Natgas pulled back to the 20 day moving average. Today it’s breaking out to new highs.

1. This is Fed day. The Federal Open Market Committee (FOMC) will make their interest rate policy decision for the United States at 2:00 pm ET. After the recent decline in the stock market everyone will be waiting to hear what Chairman Jay powell will have to say regarding his $120 billion a month asset purchase program. If he says he is going to taper the program the market could see more selling. Honestly, nobody expects him to say that, but we shall see.

2. Markets are rebounding across the board this morning. So far the rally looks solid as it is broad based. This rally comes despite the declines in Fedex (FDX) and Adobe (ADBE). These two giant companies reported earnings last night after the close. They are bothe selling off sharply this morning.

3. Bitcoin watch out for a break below 39000, that will mean that it could drop into the 25000 range. It’s been bouncing off it 200 mav on futures.

4. Gold/Silver gold was slammed during the quad witching hour again. Nick is neutral to slightly bullish. Need more time to analyze the trend.

1. Markets Under Pressure Today, the major stock indexes are all falling sharply continuing its slide from last week. Remember, the major stock indexes ended sharply lower on Friday and gapped lower today. The news catalyst for the fall is being put on China's Evergrande, but these markets were long overdue for a pullback. 

This is going to be an interesting week. We have the all important FOMC announcement on Wednesday. It's very difficult to see the Fed say anything about a potential taper after today. 

2. Gold (GLD) is actually catching a bid today. This is a fear bid as bitcoin and the cryptos are getting hammered. This must be watched closely as the gold chart pattern needs a lot more constructive work before it looks solid again.

1. Today is options expiration for September. It was another poor performance for the markets this week as the major indexes retreated. This market weakness is becoming a theme during options expiration. Also, the rare Friday declines that we see this year have also come during an options expiration week. 

2. Next week there will be an important Federal Open Market Committee meeting. It's a 2-day meeting that concludes on September 22nd. This time around the markets will be paying very close attention to the Fed statement and the comments from Chairman Jay Powell. Recently, it was reported that there were several fed members selling out of their stock positions. He will certainly be questioned on this as he has ordered an ethics review after Fed presidents disclosed multimillion-dollar investments.

3. Cryptos/Bitcoin Bitcoin is back in the channel. Failed pattern but never broke support. Overall caution is advised. Quantum computers could be the kryptonite for cryptos.

4. Gold/Silver got slammed during the quad witch. Broadbased sell-off on all fronts.

1. Quadruple Witching Options Expiration - This Friday is options expiration for September. As you know, this is a quarterly expiration which is a quadruple witching options expiration. This means that there are 4 different asset classes expiring under the sun this week. It has been a volatile and choppy trading week so far and I'd expect more of it going forward. 

2. Chinese ADRs (China stocks) are almost impossible to invest in at this time. Today, there is news that the government in China is going to increase gaming industry regulations in the Macau region. Nearly everyday we hear some other new regulation from the Chinese government in a bunch of different industry groups.. It makes the Chinese stock uninvestable at this time. 

3. Bitcoin holding tight right below 50k. Not looking good.

4. Gold/Silver gold is down 11.5. Silver down .10. Nothing to see here.

1. Options expiration for September is this coming Friday. It is a quadruple options expiration which means that there will be 4 different asset classes set to expire. This makes for a very choppy and sometimes volatile week. Remember, the volume trends have been very light in the major stock indexes so we could see a wild week out here. Watch for unexpected news, rumors, and ridiculous up and down grades this week. I call this the real shark week. 

2. Over the weekend there was news that House Democrats expect to propose raising the corporate tax rate to 26.5% from 21%. They are also looking to impose a 3-percentage-point surtax on individual income above $5 million. None of this is good for markets or for economic growth. We shall see where it goes over the next few weeks. 

3. Natgas and inflation natural gas prices have gone parabolic and is trading at multi-year highs. Stimulus dollars coming home to roost. Europe is really gotten hit. Putin has them nearly 600%.

4. Bitcoin Walmart is not partnering with lightcoin, typical options ex. BTC went through 50k for one day and then the move failed. Nick is calling mid to low 20’s. Look out below. Beware of 38500, then 26000. Nothing goes down in a straightline. Still a chance to go higher.

5. Gold/Silver stuck in the mud, gold is up for now. 1797 gold futures. Silver down slightly.

1. More Money Rotation - This market has become a game of Hot Potato. Today, we are just seeing more money flowing from one sector to another. Right now, I'm seeing some strength in consumer goods stocks like $Pepsi (PEP), Clorox (CLX), Hershey (HSY) and others, Energy is also upticking today. on the downside, tech is weak today. The semiconductor sector (SMH) is lower by 1.1%. This is not a big deal but this is just the way the markets have been operating lately. 

2. Coinbase  (COIN) received a Wells notice from the SEC. The notice is related to Coinbase’s interest-earning product called Coinbase Lend which the company has not launched yet. The stock is down 3.4% today. 

3. Bitcoin broke 50k only to get slammed yesterday. It was driven lower and Nick mentioned that the big money was short for the first time on the future. If it closes below 44k on a weekly close, it’s in trouble. The best moves come after a failed moved. Cascading panic coming? It happened with real estate

4. Gold/Silver got slammed yesterday. It was up strongly on Friday only get hit hard yesterday. Silver is the better play, with more upside to 25.50. Gold had a classic bounce. 1882-1883 is next.