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 we discuss:
1. The Federal Reserve on Thursday took additional steps to provide up to $2.3 trillion in loans to support the economy. This funding will assist households and employers of all sizes and bolster the ability of state and local governments to deliver critical services during the coronavirus pandemic. The charts were telling us that something like this was coming.
2. Later today, the Senate will vote on $250 bln in additional funding for small businesses this afternoon, but it is not expected to get 60 votes needed to pass. The Congress has already said they want $500 billion, so even if it did pass it would not get through Congress. After todays Fed move, do we really even need it?
3. The chatter right now is that the Trump administration is considering a May 1st date to re-open the economy. I think that is really possible in certain parts of the country.
4. Oil is looking good. Saudi Arabia and Russio have reached a deal. 20mm bbl cut. Oil is going to move steadily higher. It’s up $2 now. It will be a trading opportunity shortly. Nick will send out the alert.
For more info, go to www.InTheMoneyStocks.com.
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