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. Big market rally so far today. It’s a broad based move and it’s being led by the transports. The transports have been a recent laggard and that is positive near term to see them acting well.
2. Fedex (FDX) reported earnings and the stock is acting well today trading higher by 7.0%. When the transports show leadership it helps everything out.
3. Homebuilder stocks are also strong today. This comes after some housing data. New home sales came out better than expected and that is also helping the rally today. Remember, this has been an industry group that was very weak earlier this recently. The homebuilder sector is extremely important for the economy.
4. Gold is just slightly positive today, but nothing great. Gold miners (GDX) are rebounding a little today after making a new low yesterday.
5. Bitcoin is slightly in the green as well. There is nothing great for this move and the larger trend is still down.
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