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. Markets are stalling after a two-day short squeeze rally. This December has seen very volatile, chaotic and unprecedented action for the month. Generally speaking, this is not healthy price movement and it warrants caution into the end of the year.
2. The omicron variant is now being viewed as mild. Originally, the day after Thanksgiving this variant was being hyped up like it was the mother of all variants. These big pharma guys like Pfizer (PFE) are saying a booster shot solves the issue. I find it ironic that a booster shot is the answer to all the issues. The big question is how many boosters will be required?
3. Gold and silver are trying to bounce here, but the bounce looks weak for now.
4. Bitcoin broke below the key 52,000 level. It is still holding above its 200-day moving average on the daily futures chart so it may recover by the end of the week. Either way, it looks weak now and a weekly close down here is a very negative sign for the popular crypto currency.
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