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. Markets Under Pressure Today, the major stock indexes are all falling sharply continuing its slide from last week. Remember, the major stock indexes ended sharply lower on Friday and gapped lower today. The news catalyst for the fall is being put on China’s Evergrande, but these markets were long overdue for a pullback. This is going to be an interesting week. We have the all important FOMC announcement on Wednesday. It’s very difficult to see the Fed say anything about a potential taper after today.
2. Gold (GLD) is actually catching a bid today. This is a fear bid as bitcoin and the cryptos are getting hammered. This must be watched closely as the gold chart pattern needs a lot more constructive work before it looks solid again.
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