Market Sends Mixed Message, but the Trend is Still Your Friend with Nick Santiago (Ep #115)

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. 19th anniversary of that dreadful that changed the world.

2. Mixed markets today. Dow up, Nasdaq down .7, S&P 500 mostly flat and Russell down .75. Normally look for a flat to slightly positive day on 9-11. Retail,transports and are higher, energy and financials also up. Industrials, Cat, 3M, doing higher. Be cautious of tech. There’s been some pretty good distribution. Most important part of the year.

3. Crude has pulled back under $40, probably won’t go below $33. Some big names are headed up. Very diverse sector. Out performance by refiners, all higher 1.5% to 3%. Need to play the sub-groups.

4. Precious metals, gold down a bit, silver down 1.2%, the usual backing and filling. Building a potential pattern for a breakout in late Q4. Next Friday, 9-18-20 is a quadruple witching day. Lots of games and lots and madness in the markets.

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