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 a little today as they await the highly anticipated FOMC announcement on Wednesday afternoon. Last week, the markets rallied higher and this week should be a sloppy and choppy week. Remember, gold, the U.S. Dollar and bond yields can all be market movers after the Fed statement on Wednesday. This Friday is also options expiration for December. It is a quarterly expiration which makes for added volatility in a lot of the individual names. There are 4 asset classes set to expire this week and we call this quadruple witching options expiration.
2. Bitcoin had a very bearish close last week and is starting today’s session lower again. Right now, there is a daily chart bearish base forming on the futures.
3. Gold hung in today, Sitting on the sidelines and probably on hold until the Fed on Wednesday.
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