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. This is Fed day. The Federal Open Market Committee (FOMC) will make their interest rate policy decision for the United States at 2:00 pm ET. After the recent decline in the stock market everyone will be waiting to hear what Chairman Jay powell will have to say regarding his $120 billion a month asset purchase program. If he says he is going to taper the program the market could see more selling. Honestly, nobody expects him to say that, but we shall see.
2. Markets are rebounding across the board this morning. So far the rally looks solid as it is broad based. This rally comes despite the declines in Fedex (FDX) and Adobe (ADBE). These two giant companies reported earnings last night after the close. They are bothe selling off sharply this morning.
3. Bitcoin watch out for a break below 39000, that will mean that it could drop into the 25000 range. It’s been bouncing off it 200 mav on futures.
4. Gold/Silver gold was slammed during the quad witching hour again. Nick is neutral to slightly bullish. Need more time to analyze the trend.
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