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. It’s Fed Day. The FOMC will conclude a 2-day meeting at 2pm ET today. The central bank is expected to accelerate its $15 billion taper. The rumor is that the central bank will increase the taper to $30 billion so we shall see what they actually do. Traders and investors like myself are now wondering how much of this is already factored into the markets. Fed Chairman Powell will hold a press conference at 2:30 pm ET.
2. If there is no Santa Claus Rally this year that does not bode well for early 2022 or the so-called January Effect. Almost every time Santa did not show up it has led to an ugly start of the year.
3. Gold remains weak at the moment.
4. Bitcoin is forming a bearish chart base below the 200-day moving average.
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