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 retreating again this morning. Everything is under pressure except energy and consumer goods stocks. Yesterday, Fed Governor Brainard said the Fed will look to reduce its balance sheet and raise rates more aggressively. This sent the markets down right after the news was released. Either way, I’m not really that bearish here. I think some industry groups needed to pull in and that is happening now. It’s simply a stock pickers market now.
2. The Russia/Ukraine war does not seem to have any end in sight. This is certainly keeping a bid in the energy, agriculture and even a lot of commodity sectors. Any resolution or peace deal should send these industry groups lower as they are all very overbought and extended. The Russian Ruble.
3. Twitter employee meltdown continues. Musk has been appointed a director and the beat goes on.
4. Gold/Silver are in a very tight trading range. Nothing terrible for gold but a peace deal will cause a sell-off. It hasn’t tested recent highs yet.
5. Bitcoin is getting hit today. It hit resistance and pulled back.
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