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 fake Bitcoin Tweet heard around the world. The SEC was allegedly hacked. The crypto traders are all awaiting news from the SEC on a spot bitcoin ETF approval by over 10 firms.
2. It’s a quiet day for markets, Tomorrow, the CPI number will be released. This has been a market moving number in the past and can be again.
3. The financial stocks have stalled out a little this week, but they have been some of the biggest winners since the rally started in late October. I think this pullback is healthy as this sector was starting to get parabolic. JP Morgan Chase (JPM) has rallied nearly 30% in 2 months.
4. Gold is flat today, but it has been pulling back since December 28th. There is still a lot of daily chart support around the $2000 level.
5. Silver has lagged gold as you know. There is still a lot of support for silver around the $22.00 level on the daily chart. Currently, silver futures are trading around the $23.00 level, but this is minor support right now as it has been tested for a week already.
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