1. There is some money rotation going on today so far. The Dow Jones Industrial Average (DIA), NASDAQ (QQQ) and S&P 500 Index (SPY) are trading slightly higher to start the session. On the flip side, the Russell 2000 Index (IWM) is pulling back. Volume is light so there is no real issue yet. 

2.  The so-called meme stocks continue to dominate the headlines and the market action. While we have become accustomed to watching Gamestop (GME) move up and down 25% a day, this time it is AMC Entertainment (AMC). The stock is up 25% today making new all time highs. That movie business model must be really good. 

3. Gold/Silver Gold futures up a little, 1907, some more sideways action coming and then 1980 to 2000. Silver is holding the 28 and with a little more consolidation it will pass 30.

4. Bitcoin may be consolidating or forming a new base. Need to see what happens. It’s hanging in for now.

1. The markets are mixed to start the new month. The tech heavy NASDAQ and NASDAQ 100 are slightly negative to start the session, but it is a flat day overall. 

Oil is the big topic today. Earlier for Reuters, OPEC+ agrees to keep existing plan in place which calls for gradual easing of oil supply cuts. This has crude on the rise today, Oil is higher by $2.39 a barrell. Energy stocks are all very strong today. So much for the green revolution.  

2. Gold/Silver Gold getting slammed today to $1897. No fundamental shift. 10 year yield has gone up a little. Silver is strong. Still over $28.

3. Bitcoin down a little today. ETH down today. Slightly trendless. Wait for a retest of the 200 MAV. Probably coming soon since there's a major Bitcoin conference in Miami, just like in December 2017.

1. Everything is up in today’s session. The Dow Jones Industrial Average (DIA) , Russell 2000 Index (IWM) and the S&P 500 Index (SPY) are positive to start the session. Sam with the tech heavy NASDAQ (QQQ) is slightly lower. Volume is expected to be light as we get closer to the Memorial Day holiday. As long as the volume remains light I would expect a flat to positive trade day.  

2. Gold/Silver taking a breather after a major run. Overhead resistance is coming into play. A healthy pullback is due. 1950 is next and then 2000. Silver pulls back from $28 making a perfect pattern. A little continuity will help.

3. Bitcoin watch the May 19th low. If the price closes below $30205, it’s setting up for $21,000 and then $17,000. So look out below. If the tulip market hadn’t crashed in Holland we’d still be trading tulip bulbs and they would be the world’s reserve currency.

1. So far today it is a quiet session. This is typical ahead of a major holiday weekend in the United States. On May 31st, it will be Memorial Day and the markets will be closed in the US. Often, the week before the holiday is quiet and that is what we are so seeing at the moment. 

2. Bitcoin just wait till it breaks its 200 day moving average and the $30,000 pyschological level. It’s lights out and we could see 20,000 and then 17,000. Everything crashes when they go parabolic.

3. Gold/Silver just cracked $1900. Now it’s above it, but don’t be surprised by a pause. We’re probably nearing short term resistance. Nick says it’s going back over $2000. And he’s been spot on since he called the “W” bottom. Silver is sure to follow. Expect a normal correction in copper. $4.22 is support and if it breaks it, we could see a pullback into the mid $3 range. Lumber chart looks exactly like the copper chart.

1. Markets are starting out higher across the board to begin the week. The tech heavy NASDAQ Composite is leading the charge trading up 1.2%.  Volume trends are very light so far today. Light volume favors a buoyant to upside market.

2. The crypto currencies are bouncing today. Bitcoin is actually back to 38,000. Traders must remember,  a close below the 200-day moving average which is around the 30,000 level will likely trigger another sell down to 21,000 and possibly 17,000.  

3. Gold/Silver nice uptick. Gold up $7 to 1884, it’s holding up extremely well. Looking pretty good. Further consolidation is welcome. Silver is having a nice move. Just under $28. Great set-up too. Once it breaks $28 and then $30, it’s off to the races. $34 is the next pivotal point. Selling pressure is minimal. Today Nick got back into GDX calls.

1. Options expiration for May is today. The trading week has been a rollercoaster ride but it looks like we will have a flat week when it is all said and done. Next week is when we can get back to business as this options expiration game playing is behind us.

2. Earlier today, China's Liu He reiterates stance, "crack down on bitcoin" coming; wants to prevent, control financial risks, maintain a steady yuan exchange rate. This is hot off my newswire. Bitcoin is down 8% today.

3. Gold/Silver has been on a rollcoaster ride due to options-ex game playing. A consolidation is definitely called for here. Nick will look to jump back in on a pullback.

1. As the markets fall today it is Bitcoin and the crypto currency story that is front and center. Bitcoin traded down to 30,205. Believe it or not, this level is the daily chart 200-day moving average. If this level fails to hold as support then Bitcoin is headed down to 21,000. After 21,000, 5,000 is a real possibility.

https://www.kitco.com/news/2021-05-19/Crypto-price-collapse-Bitcoin-ethereum-see-biggest-one-day-losses-since-March-of-last-year.html.

Either way, all of the major stock indexes are trading lower across the board. This usually does not happen during options expiration, but the markets are vulnerable to further declines as we move toward the second half of the year.

Markets are pulling back today. Is it real or options ex? We don’t usually have crashes during options-ex.

2. Gold/Silver gold futures traded as low as 1854 and are now trading at 1884. Are crypto holders jumping into precious metals?

1. It's a mixed session out here today. The Russell 2000 index (IWM) which represents small cap stocks in the United States is trading higher along with the tech heavy NASDAQ Composite. On the flip side, the Dow Jones Industrial Average (DIA) and the S&P 500 Index (SPY) are slightly negative. As You know, this Friday is options expiration for May. This is usually just going to be choppy week as the institutions will play games with many of the popular stocks into expiration o n Friday.

2. Gold/Silver essentially flat. No big deal. Futures are flat. Good pause day after a move like yesterday.

3. Crypto crumble. Listen to Elon and lose money. Today it’s down to 43k. Did Elon sell futures and not actually sell Bitcoin.

1. Markets are starting out on the weak side today. All of the major stock indexes are trading slightly lower to begin the trading week. Traders and investors should note that this coming Friday is options expiration for the month of May. Often, options expiration trading weeks will be filled with a lot of rumors and ridiculous upgrades and downgrades by the large institutional firms. This is a period where everyone should be on their toes.

2. Elon Musk does it again as he ruffles the Bitcoin feathers over the weekend. Apparently, he received some backlash from some people on Twitter. Either way, Bitcoin is breaking down and now trades below the important April 24th pivot level which was defended on may 13th, 2021. The next major support levels are 40,000 and then down to 30,000. In time the low 20,000 area.

3. Gold/Silver Gold broke $1850. Now it’s off to the races. It’s cutting through its 200 day moving average. Resistance will kick in again at 1865-1870. Silver is looking almost as good as gold. Watch out for $28-$30. Don’t chase it.

1. Markets bounced yesterday gaining a bit back from Wednesday's bloodbath decline. Today is a Friday so we always give the markets an upside bias on Friday. After the decline we saw earlier this week I would have to think that the central bankers do not want a sharp Friday decline for fear of a Black Monday event. Either way, stocks are higher today.

2. Dogecoin gets a blessing from Elon Musk. This comes after Tesla announced that they suspended vehicle purchases using Bitcoin. This guy seems to be manipulating the crypto market at will. Musk tweeted out that he is working with Dogecoin developers to “improve system transaction efficiency” and that the work was “potentially promising.”

Tesla (TSLA) stock is up by 1.56% this morning. 

3. Gold/Silver gold futures up to 1835. Consolidating here. Nick closed out his gold position. Miners are looking. Silver is up 1.35% on the futures. SLV is up .18 right now. Precious metals looking very bullish.

4. Bitcoin got slammed but closed at support. It pierced its low 47k from 4-26 but closed above it at 48k. Now let’s see if it consolidates, which will indicate it’s getting ready to rollover. If price chops around it will continue its downturn.