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. Its Fed Day. At 2:00 pm ET the Federal Open Market Committee will make their interest rate policy decision for the United States. Obviously they are not going to raise rates, but they are expected to announce a tapering of the $120 billion a month of asset purchases. The rumor is a taper of $15 billion a month going forward. Then a rate hike comes late next year. We shall see soon enough if tapering is tightening. Dow is down. Quiet session. Not a lot happening before the Fed Announcement. Nasaq is up slightly. This is a form tightening.
2. Gold is selling off ahead of the FOMC announcement. Futures down by $26. Silver down as well. Should the Fed not taper as much or even not do it at all then I would think that gold could turn around. Either way, the precious metal is down right now.
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