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. This is a huge week ahead for the markets. Later on August 3rd, we got earnings from AAPL and AMZN. This is the last of the mega-cap tech stocks scheduled to report earnings, but many other names will continue to report for the next 2 weeks. Then on Friday we have the non-farm payroll report, for July. This report is closely watched by every market participant to see if the job market will remain hot. The Fed also views this as part of their mandate so it can certainly be a market mover.
2. This morning, the major indexes are slightly higher to start the day. The small cap Russell 2000 Index (IWM) is holding up the best right now with a gain of 0.70%. The tech heavy NASDAQ Composite is flat right now. This Is the final trading day of July.
3. Precious metals are catching a bid this morning. Silver is even stronger than gold with a1.8% gain. The pattern on silver is going to be important as the precious metal remains above the 20-day moving average. While I would love to see a pullback it is definitely firming up and that could lead to another advance higher. Right now, the $25.50 area is still the daily resistance in play.
4. Oil is up again today. The upside for crude is around the $85.00 area. Currently oil is trading at $81.50.
5. Bitcoin is flat this morning. Again, the daily chart is sloppy, but the weekly chart is still constructive. The commercial money has gone back to the short side. It will be interesting to see how Bitcoin futures play this week.
This show is part of the Spreaker Prime Network, if you are interested in advertising on this podcast, contact us at https://www.spreaker.com/show/4295686/advertisement
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.