CPI Blues with Nick Santiago (Ep #490)

May 11, 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. The CPI report was released this morning. The Consumer Price Index (CPI) rose 0.4% month-over-month in April after a 0.1% increase in March. Core-CPI, which excludes food and energy, rose 0.4% in April. These number matched expectations and the markets rallied higher to start the day. Tomorrow morning the PPI will be released and that also can sometimes be a market mover.

2. Energy stocks are the weak sector today. Oil is lower by 1.5% and just about all of the leading energy stocks are trading lower right now. This group has been kind of a place where a lot of investors are putting money, but it has been extremely choppy this year.

3. All eyes better keep watching the Regional Bank ETF (KRE). Today, it is trading lower by 1.67\%, buit the chart remains weak/broken and in a down-trend. This industry group has obviously been defended by the central bankers, but 3 major bank failures have occurred inthe past month. Use caution when trying to trade this industry group.

4. Gold is down slightly .2%. It continues to remain in a range and is the ultimate fear trade. Its holding up well right now despite being overbought on the weekly chart.

5. The Debt ceiling debate continues. This is going to likley drag out until the final hours before a government shutdown. Its just more political theatre by the political actors.

6. Bitcoin is trading higher by 2% today, but it has been very choppy over the past 6 weeks. The chart is still holding up, but it is the upside should be limited.

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