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 basically flat today to start the week. Believe it or not, that is a positive after the Friday bloodbath decline that we saw late last week. Often if there is a big Friday decline the following Monday could be a panic. That is not the case today, at least not yet.
2. Yields on the 10-year note are at new highs today. They are currently at 2.979% testing that psychological 3% level. Remember, there is a highly anticipated FOMC meeting starting tomorrow and it concludes on Wednesday. The Fed is expected to raise rates by 50 basis points.
3. Gold is getting slammed today. While it’s a bit oversold on the daily chart it is signaling a further decline down to the 1790 area. remember, there will be bounces here, nothing falls in a straight line.
4. Bitcoin is holding on by a shoestring. The popular crypto asset remains above the 38,500 area. The longer bases or consolidates this level the more likely it forms a bearish pattern. At the moment, it is still holding, so it lives to fight another day.
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.