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. Stocks were defended this past Friday. They staged a big rally after struggling for most of the week. This is natural activity and that is why it is so important to understand volume trends at highs and lows. Today, the major stock indexes are seeing some follow through buying. This is usually common at the end of the month so it is not a surprise.
2. Gold is trading higher today after an ugly week. I’m still in the camp that gold has a lot of work to do before it gets constructive again. The chart remains weak as the price is below the 50 and 200-day moving averages.
3. Bitcoin is holding up at this time. The popular asset class is now trading back above the important 35,000 level. The chart pattern that forms over the next week or so will be critical moving forward.
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