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. Stocks rally again, Markets are forward looking, they do not look in the rear view mirror. Most of the talking heads in the financial media get caught up in the emotion end of the business and therefore were betting against this market down here.
2. We must watch the oil pattern closely, that could be setting up for higher prices soon. Obviously it would be a production cut by opec and russia that would be the catalyst for a pop. The chart has a double bottom low, a pop and now sideways. Will check again on Thursday. No cut would
3. Hotel stocks are now on my radar. I have not jumped on board yet, but after a pattern I will jump on the hotel train. Hilton(HLT), Marriott (MAR) & Hyatt (H) all have the same chart pattern forming. There’s going to be a huge move. Just a natural 50% retrace will take Hilton to $90. The travel sector is going to pop. After the lockdown is over
Retest to 240 at S&P perhaps, but it’s not in Nick’s charts. This run in the market will not be over for a long time. As a trader, this is the ideal market. For society, not so much. For more info, go to www.InTheMoneyStocks.com.
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