1. Yesterday the Federal Reserve Chairman Jay Powell said that he is going to keep the printing presses running. The major stock indexes rallied sharply higher after the FOMC statement. Today, the markets are retreating a bit as yields on the 10-year note climb 9 basis points to 1.73%. The tech sector is getting hit the most on the back of higher bond yields. Nasdaq finished down 3%. Dow made a new all time high and reversed down.

2. The Initial Weekly Claims report was released at 8:30 am ET. They show that there were 770K claims reported. This is pretty much as expected so it seems like a non-event so far. As for continuing claims, they decreased to 4.124 million from a revised count of 4.142 million.

3. Tomorrow is options expiration for March. It is a quadruple witching expiration. That means there are 4 different asset classes expiring this week. Traders should expect some whipsaw in many of the popular stocks that have options that are set to expire tomorrow. Real trading starts again on Monday and we start the process all over again.

4. Gold/Silver got hit today after a good day yesterday. Gold acted well after the Fed announcement. GDX retracted after yesterday’s gain. Silver futures up .03.

1. This morning, the major indexes are starting out a little on the weaker side. The Dow Jones Industrial Average (DIA) is the lone winner today trading up about 0.20%. This is an options expiration week so we should expect some whipsaw in many leading stocks into Friday. The Russell is starting to sell-off. Tech has failed to make a new high. Interesting week going into Options-Ex

We’ve had many reversals recently which isn’t the sign of a healthy market along with interest rates rising. We’re seeing a rolling high. Reminscent of 1999-2000 with high individual engagement in the market. SPAC’s instead of Dot Bombs. Companies have raised more money than ever before in secondard offerings. Tons of insider selling. Anothe sign.

Later today, the Federal Open Market Committee (FOMC) will make its interest rate policy decision for the United States. This morning, bond yields are on the move again, the 10-year note yield is up to 1.669%. So Fed Chairman Jay Powell will have to thread the needle a bit when he makes his statement at 2pm. He will also hold a press conference at 2:30 pm. Hopefully, the reporters will ask him some tough questions. 

2. Gold/Silver reversed to the upside. Usually they get beat down on FOMC meeting days. Gold is looking good. GDX and calls on gold shares.

1. It seems that technology is catching another bid this morning as we have the NASDAQ Composite trading higher by 0.55% on the day. There seems to be some rotation going on as we are seeing the energy and financial sectors pulling back a bit and money rotating back into technology. The volume trends have definitely started to lighten up over the past few sessions and as we all know by now, light volume favors upside. Russell down, Tech is up. Volume trends yesterday and today is much lower volume.

2. This Friday is going to be options expiration for March. It is also a quadruple witching options expiration. That means we have 4 different asset classes expiring this week. So traders should expect some game playing by the institutions in the popular stocks. Remember, they know what price they need to move a stock to in order for the majority of retail options traders to have their contracts expire worthless. This is always a tricky week that is filled with lots of rumors and often ridiculous upgrades and downgrades.  

3. Beware of March you never know what’s going to happen. Look at the charts every year through history March and October are the most volatile. They coincide with the equinoxes. Potential turning points often occur.

3. Gold/Silver gold futures up $5 and silver down .18 on the futures. Gold is a great play right now. It’s taking it very slowly and no one is paying attention. But that’s when the big move is about to happen. Nick’s been calling this since August 7.

1. The stock markets are mixed this morning. The tech heavy NASDAQ is getting sold off at the start of the session as bond yields surge higher. The 10-year U.S. Treasury Note yield is now at 1.619%, up 9 basis points. The Dow Jones Industrial Average (DJIA) is acting well trading up about 0.40%. This will be interesting to see how we close this Friday session. As you know, last Friday the markets plunged only to surge higher in the afternoon session. It was the ultimate save job.  

2. Having a nice pop today on higher rates. And it’s making higher lows and Nick believes that it’s going to continue.

2. Gold/Silver getting slammed but it will be interesting to see where it closes today. Nick is bullish gold right now. Gold miners hit also down 1.6%. Don’t stereotype the correlations. These relationships are subject to decoupling, especially in this kind of market of coordinated central bank activity.

1. The major stock indexes are rallying higher again today. it seems that there is really no fear out here at this time. Earlier this morning, ECB President Christine Laggard said that she expects to conduct its asset purchases at a significantly higher pace over the next quarter than during the first months of this year. So markets seem to be responding positive to her comments.

There there was the Weekly Initial Claims report which stated that initial claims decreased by 42,000 to 712,000. This was the lowest level of new claims since the first week of last November. Continuing claims for the week ending February 27 decreased by 193,000 to 4.144 million. so this number is getting better, but still has a long way to go. 

2. Gold/Silver As usual it’s not how they open, it’s how they close. During the morning show they were flat and closed up much higher. Nick is still long on miners and on the metal. Under $1700, Nick right as usual.

1. Stocks rallied yesterday and they are again catching a bit higher this morning. So far this week, fear in the market has subsided, but this is likely to be short lived. It will be important to watch the chart patterns that form over the next week or two. Lots of signs of weakness. Semi-conductors are down while the market is rallying. They’re in everything we use, much like Doctor Copper.

Gamestop (GME) is back to its winning ways again, The stock is trading back above $280.00 a share. I have to laugh at this, but this is just another sign of froth and inanity that is taking place in 2021. These are markets that are distorted in many ways and traders must be careful when trading this stuff. The shorts are gone so what’s the deal?

3. Gold/Silver flat today, nothing to see here.

1. This morning, the major stock indexes are bouncing sharply higher. Today's move is being led by the tech heavy NASDAQ Composite and NASDAQ-100 over 3 percent. Tech has been oversold a bit, so today it is the best performer. It should be noted that tech was down by 2.5% yesterday, so it is only regaining what it lost yesterday. I still think tech heads lower after a short term bounce. Chart recognition is critical now.

2. Last night, the Chinese government ordered the state funds to buy stocks to stem the recent stock rout. This is very problematic because the system is built on confidence not government sponsorship. If the Chinese government is now telling state funds to buy stocks who will have confidence in the system.. It is now just the government that is moving stocks. This is outright dangerous and adds to my theme of 2021. The year of trading dangerously. 

3. Gold/Silver nice bounce in gold. Futures up 34. Nick issued the buy recommendation last week. Up 5% GDX and sold half. And let the 2nd half run and run and run. Backing and filling just as Nick expected and here we are.

1. Last Friday was certainly a wild trading day. The PPT did there thing and the markets reacted accordingly. There was a huge gap higher open after a better than expected job report. Then the markets sold off sharply going negative across the board into the 11:30 am time period. This was then followed by a strong  broad based rally  into the close. Hence, it's not how they open, but rather how they close. Obviously, the close was positive and this is carrying over into today's session so far. 

Enjoy the ride. What happens when the PPT intervenes and markets still go down? Is buying of stocks far behind.

Either way, I really believe after a pattern is formed these markets are headed back down. So do not get too excited with the bounces. 

Bond yields are backing and filling. There’s problems in repo land.

2. Crude high between 68 to 70, we’re around 65 now. It’s had an incredible run. Then we wait on pattern when it hits the big resistance.

3. Precious metals getting slammed again. Gold down $19. Silver down slightly. GDX gold miners ETF is holding up, this is a bullish indicator for gold.

4. Watch for divergences. Dow is the strongest of the major indexes. It showing leadership. Nasdaq 100 is negative.

1. This  morning, the S&P 500 futures sured higher by nearly 50 points after the non-farm payroll report. Then shortly after the opening bell the market rolled over and is now negative across the board. The Russell 2000 index is trading down by 2.2%, leading the decline in the major indexes. The tech heavy Nasdaq Composite is also getting hammered trading lower by 2.14%. The close today will tell me a lot more, but so far everything that I thought would happen is taking place. 

2. Employment numbers ahead of expectations 379k jobs added, which shows what states reopening can do. Majority of jobs are waitress and bartenders. Markets were up on the news and have now cratered. They’re negative across the board. Russell down nearly 2%. Even the Dow is down. We’ll see how they close. Where’s the plunge protection team when you need them. Higher yields on the 10 year, the repo market is cratering and there’s a lot more to go. Big money has been exiting. Crude oil just under $66. Energy stocks are holding steady and paying big dividends.

3. Gold/Silver gold down under $1700 and silver under $25. Gold futures at $1693. Very attractive level. Gold miners looking good at $31. Gold could turn into the fear trade. Lots of negatives. This time really is different.

1. Today, we received the Initial Weekly Claims report. The report said that there were 745K new weekly claims. This was somewhat in-line with expectations. The big story today is really coming from Federal Reserve Chairman Jay Powell. he will be speaking around noon today. There have been a lot of problems in the market since last week when he testified on Capitol Hill.

2. The financial stocks have been extremely strong since the rise in yields. Should the financial stocks start to retreat or sell off then this market will have some serious trouble ahead. After all, this industry group has moved up and looks like a parabolic chart formation. By now, most of us know how these patterns end. If financials rollover, then everything is cooked. Right now, the bond market is talking and so is the repo market. Tne DOW continues to show leadership, a real market negative. It’s rabbit

3. Gold/Silver gold is still in the tradable low range. Gold futuress are up again. GDX is up and has had a nice run. Will the fear trade kick-in?