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 just can’t get any follow through after a rally session. Monday was a strong rally only to be met with selling on Tuesday and Wednesday. Yesterday, markets surged only to be met with selling pressure today.
2. Last night, Apple (AAPL) and Amazon (AMZN) both reported earnings and they are both trading lower today. Amazon is obviously the big lower falling by 13% to $2500/share. That was a terrible reaction to earnings for this giant. Apple is down about 2%, but it did have a big rally yesterday. Either way, this is not a great earnings season so far for the mega-cap tech stocks.
3. The Fed is next week and that is what everyone is now waiting on. They are expected to raise the fed funds rate by 50 basis points. That is factored in, but the verbiage could move markets.
4. Gold is bouncing today off of daily chart support.
5. Bitcoin is falling a little. It is now testing that 39,000 level again.
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