You Don’t Have to Make This Up with Nick Santiago (Ep #81)

from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends. Today we discuss:

1. Earnings are starting to pour in. Tonight, everyone will be watching Tesla earnings. If the company can report another profitable quarter it will qualify to get into the S&P 500 Index. That means that many fund managers will be forced to buy the stock as part of their portfolio. Microsoft, Las Vegas Sands and Whirlpool will be the big names reporting earnings tonight after the close.

2. Tesla is the big one. If they have earnings they’re a lock on the S&P listing. This will result in major fund buying of the stock, so look out above.

3. Gold and Silver hit $23 on the futures. It broke through $20 and $21. Parabolic move means there’s going to be a pullback to $20-$21 and then a major move to $30, $35, $40, all the way up to $50. This is stage 1 of a 5-6 wave move. Kind of like Tesla or the biotech. Silver is still very low compared to gold. The gold to silver ratio could go down to 60.

4. Oil inventory released today. Crude was up and gasoline down slightly. Pattern is still higher for oil. No one was expecting $40 oil, but here we are. The chart pattern is still good. USO could still move. It’s been revamped, but it could go higher still. It might gain some back if oil. We’ve living in an upside down world.

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