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. Tech under pressure. This morning, the tech heavy NASDAQ Composite and NASDAQ-100 (QQQ) are under some selling pressure to start the trading week. Leading tech stocks like Alphabet (GOOG), Apple (AAPL), Facebook (FB) Amazon.com (AMZN) and many others are trading down sharply. The catalyst for the decline is the pop in yields on the 10-year note. Anytime yields tick up it looks like tech falls. Remember, ultimately yields have a lot of upside potential aso tech should be avoided for long term trades.
2. Natural gas is on fire again today. It is testing the highs from last week. The fundamental picture is still very bullish going forward, but the chart is still extended on the larger time-frames. Either way, this is a very strong move today for the commodity. Natgas options are a potential black swan call.
3. Bitcoin is hanging in. Cryptos are very technical. BTC held 40k and that’s a key number.
4. Gold/Silver gold had a great reversal today, $10 on the futures. Silver futures up as well. Gold minners up nearly 2 percent on the GDX and over 2 percent on GDXJ.
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