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 starting the week slightly positive after the small Friday uptick. This is a very volatile and choppy environment, so traders must be very selective at this time. This is very little room for error when the bull-market is in a correction.
2. Everyone is now watching the bond yields on the 10 year U.S.Treasury note. They are actually down a basis point today, but still above 1.90%. The next whole round number is 2.0% and that should not take long if you ask me. Higher yields really hurt the housing stocks last Friday. Today the housing stocks are catching a minor bid. This group can be tracked by watching stocks such as LEN, TOL, PHM, KBH and ITB.
3. Gold futures (GC) are catching a bid today. The precious metal is trading by nearly 9.00 points to $1816.30/oz. As I’ve said before, while the bigger time-frame pattern looks weak it is still hanging in there on the daily chart. Silver is up nearly 2% so far today.
4. Crypto is on fire today. Bitcoin and the other crypto assets are bouncing strong today. Someone wanted to repair the weah pattern and it’s working today.
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