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:
1. It’s the dog days of August. Volume in the $SPY has once again fallen off a cliff this week. That favors a buoyant to upside market. Simply put, there is very little selling pressure out here right now. Unless you see a real increase in volume we must expect the markets to hold up.
2. The big Fed Pow-wow is about to begin tomorrow. Remember, traders are trading lightly ahead of the big Fed announcement this weekend from Jackson Hole, WY. The central bank of the world is starting their mountain symposium tomorrow. At this time, the market is thinking that the Fed will push back their QE taper announcement. You can bet every money manager will be listening this weekend. They’ll be taking baby steps towards tapering, but with multi-trillion dollar deficits, they can’t do much and not crater the stock market.
3. Bitcoin still below the all important $50k mark. Watch for the news to turn negative on cryptos. That will be a crucial tell.
4. Gold/Silver gold and silver get slammed with the upcoming Fed Pow-wow.
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