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:
1. Today is options expiration for September. It was another poor performance for the markets this week as the major indexes retreated. This market weakness is becoming a theme during options expiration. Also, the rare Friday declines that we see this year have also come during an options expiration week.
2. Next week there will be an important Federal Open Market Committee meeting. It’s a 2-day meeting that concludes on September 22nd. This time around the markets will be paying very close attention to the Fed statement and the comments from Chairman Jay Powell. Recently, it was reported that there were several fed members selling out of their stock positions. He will certainly be questioned on this as he has ordered an ethics review after Fed presidents disclosed multimillion-dollar investments.
3. Cryptos/Bitcoin Bitcoin is back in the channel. Failed pattern but never broke support. Overall caution is advised. Quantum computers could be the kryptonite for cryptos.
4. Gold/Silver got slammed during the quad witch. Broadbased sell-off on all fronts.
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