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The Holiday is Over — Nick Santiago 11-27-23 #594

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Manage episode 386152415 series 3281026
Content provided by Kerry Lutz. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kerry Lutz or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
1. The holiday is over and the markets are stalling out a little to start the week. These markets are very overbought on a daily chart basis. A pullback or some consolidation is needed after such a big surge. Today is a full moon, let's see if we get a minor pullback for a few days here.
2. New home sales declined 5.6% month-over-month in October to a seasonally adjusted annual rate of 679,000. Expectations were 720,000, this is a miss. The prior month was revised to 719,000 from 759,000. While on the surface this looks bad, we must remember that bad news is often viewed as good news these days.
3. Gold and silver have held up like rocks lately. Today, the precious metals are showing strength again. Gold futures have not broken out yet, but are teasing us as it trades above 2000. Silver is now flirting with $25.00 an ounce.
4. Bitcoin is pulling back today from a short term overbought condition. The pullback does not look damaging to the overall structure which is still bullish.
Visit Nick at: https://InTheMoneyStocks.com
  continue reading

558 episodes

Artwork
iconShare
 
Manage episode 386152415 series 3281026
Content provided by Kerry Lutz. All podcast content including episodes, graphics, and podcast descriptions are uploaded and provided directly by Kerry Lutz or their podcast platform partner. If you believe someone is using your copyrighted work without your permission, you can follow the process outlined here https://player.fm/legal.
1. The holiday is over and the markets are stalling out a little to start the week. These markets are very overbought on a daily chart basis. A pullback or some consolidation is needed after such a big surge. Today is a full moon, let's see if we get a minor pullback for a few days here.
2. New home sales declined 5.6% month-over-month in October to a seasonally adjusted annual rate of 679,000. Expectations were 720,000, this is a miss. The prior month was revised to 719,000 from 759,000. While on the surface this looks bad, we must remember that bad news is often viewed as good news these days.
3. Gold and silver have held up like rocks lately. Today, the precious metals are showing strength again. Gold futures have not broken out yet, but are teasing us as it trades above 2000. Silver is now flirting with $25.00 an ounce.
4. Bitcoin is pulling back today from a short term overbought condition. The pullback does not look damaging to the overall structure which is still bullish.
Visit Nick at: https://InTheMoneyStocks.com
  continue reading

558 episodes

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