$5000 iPhones, and the Debt Ceiling is Raised with Nick Santiago (Ep #499)

June 05, 2023

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 .Friday was a huge market surge as the debt ceiling was approved by the Senate. There was also a goldilocks job report released on Friday morning. It’s amazing how that happens.

2. Saudi Arabia will implement an additional voluntary cut in its production of crude oil, amounting to one million barrels per day. OPEC+ makes no changes to oil production targets.Crude is trading higher by 1% to $72.40 a barrel.

3. Apple (AAPL) is holding its Worldwide Developers Conference today where it is expected to unveil a mixed reality headset. The cost is about $3000.00 for the headset. AAPL stock is making new all time highs this morning.

4. The financial stocks are weak today across the board. the Regional Bank ETF (KRE) is trading down by nearly 3%. While this has improved recently it still is a weak chart on the larger time-frames.

5. Gold is trading up today, but did sell-off on Friday. So far, the $1940 support level is holding. Just remember, this is just daily chart support.

6. Bitcoin futures are down 2% today. They have been in a choppy range and can go either way short term.

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