Unbelievable Jobs Report with Nick Santiago (Ep #337)

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.


1. Jobs Report This morning, the non-farm payroll report was released by the BLS. There were 531,000 new non-farm payrolls in October. Non-farm private payrolls increased to 604,000. Wages rose 0.4% for the month and were up 4.9% from a year ago. Obviously, leisure and hospitality was the strongest area to recover. So this was another goldilocks number reported. It’s amazing how that happens.

2. Earlier this week, the Fed announced a taper to their asset purchases by $15 billion a month from their current $120 billion a month. So far, the market has embraced the Fed decision and has rallied higher. Surprisingly enough, bond yields have pulled back since this announcement. This has helped tech stocks to rally to new all time highs. It has also boosted real estate stocks and utilities.

3. Bitcoin is currently in consolidation mode. It’s had a huge move and now needs time to back and fill.

4. Gold/Silver were hammered on the Fed’s Taper Tantrum earlier in the week. Now they’ve fully recovered and we could be looking at $1870 for gold. $25 has been a sticky resistance point for silver. Let’s see what happens next.

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