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. Jay Powell gave his virtual Jackson Hole speech. He will remain accomodative and he will keep the pedal to the metal at this point until further notice. They’re saying they’ll let inflation run over 2%. Markets seem to like it. Futures moved higher and so did bond yields. Yields have bottomed and are up 4.5 basis today and will probably work their way higher. We could see 1.5% yields. It will have short term positive affect on the markets, but if they get too high, the market will take a hit. Could be on their way to 3%. Could be in two years or less. Now’s the time to borrow. The Fed doesn’t control, the bond market does. Can unlimited monetization continued unfettered.
2. Markets are up broadly Dow, Russell, S&P and Nasdaq. Bank stocks are very strong. What will increasing rates do to the market? We’re getting to the the 60 day time before the election. It’s a very tenuous time. Policies between Trump and Biden are diametrically opposed. Higher taxes, more regs, new green deals etc. Bad for energy. Next 60 days.
3. Gold and silver started up and then got slammed and is down $37 on the spot silver .79. Futures are down less than the spot. They never seem to match. Fake rally yesterday. Longer term trader/holder don’t worry. For traders buy signal will be forthcoming. Not much downside. This time isn’t different.
For more info, go to InTheMoneyStocks.com.
Click Here to Listen to the Audio
Sign up (on the right side) for the free weekly newsletter.
from Kerry Lutz Podcasts – Financial Survival Network https://ift.tt/31yP2sv
