Dollar Recovering with Nick Santiago (Ep #510)

July 19, 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. Earnings are starting to pour in. So far, the financial stocks have held up well after reporting and that has certainly helped the rally. Tonight we get earnings from TSLA, NFLX and IBM.

2. This Friday is the option’s expiration for July. As most of the listeners know by now, this is a week of institutional game playing. When you combine options ex with earnings traders should be on guard for lots of whipsaw in many of the popular stocks this week.

3. Today’s rally looks solid so far today. It is being led by the small caps (Russell 2000) and that is a near term positive sign. Everyone should just remember this rally is long in the tooth, but the volume trends remain light and that is favorable for more upside.

4. Gold has been strong lately, but today it is pulling back. As the listeners know, I gave gold a near term target to 1985 and that was tagged yesterday. Pattern will be important now.

5. Bitcoin is flat today, but the chart is still holding up right now.

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