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. Better than expected job report for January. Nonfarm payrolls rose 467,000 in January, expectations were just 150K. So this was a bit of a surprise. It looks to have caused a spike in yields. The 10 year note is now above 1.90%. This number certainly puts pressure on the Federal Reserve to raise rates soon.
2. Earnings season is underways and we have seen some huge swings in both directions after these announcements. Today Amazon.com (AMZN) is catching a big bid to the upside. the stock is up 10.5% to 3073.00 a share. This move comes after Meta Platforms (FB) was crushed yesterday.
3. Gold futures (GC) are flat today. So while the pattern needs to get more constructive in order to move sharply higher it is holding right now.
4. Bitcoin is catching a bid this morning trading back above 38,000. So far the popular crypto asset is being defended above that important 35,000 level. Traders must continue to watch the pattern closely going forward.
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