Escape to Georgia with Nick Santiago (Ep. #20)

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. All eyes are going to be on the states that are opening up. We’re on pause right now as different states reopen. If the openings are successful then it should lead to other states opening up for business. Georgia is the big one today. Either way, it will be very important to get the country up and running ASAP.

2. Today, President Trump will sign a $484 billion bill that will help fund small business, hospital grants and coronavirus testing. All of this money is borrowed and that is the more the economy needs to get going. Despite the recent market rally it is important to get the economy up and going again.

3. Earnings are continuing to pour in. The reaction of the stocks will be important to follow. We’re in a consolidation phase right now. We’ve been going sideways since 4-10. We’re consolidating a range called the 50 percent level. Any time a chart does that it’s looking to go higher. It’s a digestion phase. May take more time.

4. Stimulus can not do it all. The country has to get back to business. USO restructures. Oil has rallied. If the economy opens up then oil consumption will follow. Right now USO is dead in the water.

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