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 was released at 8:30 am ET, it showed a gain of 1.763 million. The unemployment rate moved lower to 10.2% from 11.1% in June. So overall, this is showing an improvement, but it is still a long way from where it was in February.
2. There are lots of geopolitical events going on right now, so that creates some added risk in the market. Last night, President Trump signed executive orders to ban TikTok US and WeChat US in 45 days unless they are sold to another company.
3. Gold and silver finally pulling back. They’re severely overbought. Everytime we have an early morning pullback, they come roaring back by the late afternoon. Huge parabolic move. Always stick with the trend. There’s no ceiling on gold. Work off the overbought condition.
4. POTUS also reimposed a 10% tariff on aluminum imports from Canada. Just when we thought the USMCA deal settled all of this, apparently it did not. Could mean some big trading opportunities.
5. Then there is the latest coronavirus relief bill that has not been finalized between the politicians. Who knows what will come of this? At this stage of the game it’s just noise. But passage would be a key event. And markets will react.
For more info, go to www.InTheMoneyStocks.com.
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