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 non-farm payroll report takes center stage today. June nonfarm payrolls increased by 4.800 million vs expectations of 3.5 million. June Unemployment Rate is 11.1% vs 12.6%
Now the Weekly Initial Claims report was higher than expected with 1.427 million vs 1.355 million. So it’s not all positive out there. A lot of this is due to people not wanting to come back to the workforce because they make more money staying home.
Closes before long weekends are important. It shows where the really money is going.
2. Gold and silver Junior miners are actually leading. GDXJ is making multi-year highs. Close to all-time highs. For a trader this is 101. Everyone is printing to oblivion. It’s a positive for gold. Normally gold and silver get hammered when non-farm payrolls are released. Not so today. Watch the pattern.
3. How identify a market top or a bottom. A week before the low was made in March, we saw massive volume which was the tip-off that we were approaching market lows and capitulation. Social unrest will increase and hit a parabolic move. Sometime early next year.
For more info, go to www.InTheMoneyStocks.com.
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