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. Semiconductors are strong today after earnings from Micron (MU) and upside guidance from Xilinx (XLNX). This is certainly helping the tech sector today. As a rule the semiconductors are a very good leading indicator. As long as the semiconductors hold up the Nasdaq quill usually do well. If the semiconductors roll over it is usually problematic for the tech sector.
2. This is a holiday shortened trading week in the United States with the market being closed for the Independence Day holiday (Saturday July 4th), but it will be observed on July 3rd (Friday). This is usually a trading week that will see lighter volume. Lighter volume usually favors minor upside markets.
3. Nasdaq is leading. Dow flat. Russell 2000 and S&P 500 up slightly. Helps the market stay bouyant. Easier to manipulate when volume is low. Typical holiday trading pattern. Today is the last trading day of the month. S&P topped out on June 8. Building a new a base.
4. Gold is up $18. Silver is up 2.3% Central bankers are printing up a monetary storm. July Gold future hit $1800. Don’t worry about gold just get in some silver. There could be a shortage of precious metals come Fall due to the worldwide Covid 19 mining shutdown. They’re not going straight up as we know.
5. Unlike Tesla. Stock’s chart is very strong. It’s a market darling which says a lot. Amazon was like a Tesla. Now they’ve evolved and are still evolving. Watch out for Nikola, which went parabolic.
6. Hotels look good. Airlines are in the choppy spot. Casinos are looking to cash in. Be selective.
For more info, go to www.InTheMoneyStocks.com.
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