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The Media Lies, The Charts Tell The Truth (podcast)

Listen to “The Media Tells Lies, The Charts Tell The Truth – Nick Santiago 6-2-20 #46” on Spreaker.

 

 

1. Its amazing that just when the economy started to open up we get national rioting in so many major cities. This could be a short term setback, but it keeps our country very divided. This is really sad, but true. It was a solid Monday which means we’re going to do some backing and filling. Energy stocks are solid and so are the Financials. A lot of retail stocks are heading higher.

2. Good news is that the lockdowns are now sure to end. In Michigan and elsewhere. There’s still rioting going on but we’re on the tail end and it will probably end of shortly. The division in the country is staggering. Blue vs. Red is the equivalent of North vs. South. Are we in the midst of a new Civil War? Probably not yet, but in the coming years if it’s not fixed we certainly will. Fake news comes from the Media, always bad news. Real news comes from the charts.

3. The good news is that the markets held up well despite the rioting and looting. That is a sign of market strength right now. When stocks go higher despite bad and negative news that is a bullish indication. No need to be in a large number of trades. It’s all based on the charts. What the pundits say from one day to the next is completely irrelevant.

4. Anarchy in the streets is a great example of why everyone should own some precious metals for the future. If we are seeingthis today, what does the future hold in the next 10 years? what will the election look like later this year? Everyone should own some gold and silver for the long term.

5. Cat and Deer up today. Rio Tinto way up. BHP strong move. Freeport Mac way up. The market is talking to you. The charts are showing an electric future. RIO up over 8%. Mickey D’s went right up to its 100 moving average. Pulled back and it’s coiling and boiling. When it breaks out it’s going big. The pattern is compelling. Similar pattern in SLV.

 

 

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