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. Markets are pulling back again this morning. It started last Thursday with the major stock indexes plunging. On Friday before the labor Day weekend the major stock indexes ended lower, but actually well off the lows of the day. Volume was very heavy on Thursday and Friday. Today, it is an ugly start to the week, but this is not really a surprise as we are in the 60-day window of the election. There are a lot of forces that want the markets to decline sharply before the elections. Careful going into the election.
2. Technology has been the big winner in 2020 and it is now the big loser on this recent decline. Traders and investors should expect a choppy and volatile market right into November. As we stated a while ago, the easy money has been made.Money is coming out of the Nasdaq. It was over bought and bloated.
3. Unemployment continues down. Initial claims were lower Thursday. Non-farm payroll report much better than expected. Economies start to open up. Wall Street is different than Main Street. The country is now rebelling against the pandemic restrictions. The loss of jobs is a sin.
4. China’s threat to dump US debt is going to make that big a difference. China’s trying to get back to the bargaining table. At some point in time the US may decouple. Biden will never stand up to them. Only Trump has the will to do it.
5. Gold and silver continue their sideways consolidaton. Very gradual, nice soft landing. Be ready for resumption of the trend.
For more info, go to InTheMoneyStocks.com.
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