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. Stocks dump out to start the week. Markets are now experiencing a down ‘January Effect’. Technology (QQQ) stocks are leading the declines, but there is very little being spared. This should be a rough 1st quarter for stocks.
2. Bitcoin is testing that psychological 40,000 level today. Unfortunately, this level is now minor support and the 35,000 level is the next support area. So bitcoin traders that are looking to buy the even number of 40,000 should be very careful as it has lower to go.
3. Bond yields are moving higher again. The 10-year note yield is now up 3 basis points to 1.803%. As yields rise stocks have to be repriced and that is what we are seeing lately.
4. Gold/Silver down slightly, trading flat, not much pressure. Not much upside according to Nick. Not much chance of the fear trade re-emerging. Nick thinks they’re looking weak and will go down further.
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