The buy the dip mentality is still in effect at this time. The SPY and the DIA had every chance in the world to breakdown today as several bearish patterns were formed. However, they failed as they usually do and the stock market bounced higher right into the closing bell at 4:00 pm EST.
Nicholas Santiago started trading in 1991. In 1997, he became a licensed Series 7 and 63 registered representative. He managed money for a large, affluent private client group. After applying his knowledge to his client base, he decided it was time to begin teaching those interested in learning his methods. He is an expert in Technical Analysis. He has become an accomplished technician in the studies of Elliot Wave, Gann Theory, Dow Theory and Cycle Theory. In 2007, he partnered with Gareth Soloway to form InTheMoneyStocks.Com and realize his dream of educating others about the truth of the markets.