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. The major stock indexes are treading water today. Energy is weak, both oil and gas are trading lower to start the week. The integrated energy stocks such as Exxon (XOM), Conoco (COP) and Chevron (CVX) are having a rough start, but the session is still very early.
2. All eyes will be on the Fed this week. The Federal Open Market Committee (FOMC) begins a 2-day meeting tomorrow. On Wednesday afternoon the central bank will make its interest rate decision for the US. A 25-basis point hike is expected to be announced. The verbiage from fed Chairman Powell could move markets as the hike is already baked in. The Fed has repeatedly said that they want inflation down at 2% and that the fed funds rate will need to be around 5%. We shall see.
3. This is another big week for earnings. Later on Thursday, we get earnings from AAPL, AMZN and GOOGL. Tomorrow morning Exxon Mobil reports before the opening bell. Earnings season is now in full gear.
4. Gold is flat again today, Despite being overbought it is holding up very well. I suspect the escalation in Russia and Ukraine is keeping a bid under the precious metal. The NATO push for war has people running into gold and silver right now.
5. Bitcoin is strong again today. The popular crypto has rallied with the stock market throughout January. Traders should note that the bigger time-frame patterns are still weak and signal another decline down to the 11,000 handle.
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