Never Take Any Trading Day for Granted with Nick Santiago (Ep #481)

April 04, 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. Today, the big story over the weekend is from OPEC +. They announced that they will begin a 1.16 mln barrel per day production cut starting in May into the end of 2023. This is coming as a surprise. but last week oil did start to creep up. This could be a gamechanger since energy prices affect the US consumer. Should gasoline prices move higher, that is a direct tax to the US consumer. I would think this would be bullish for nat gas since it is the true alternative to oil, but that is not the case today as nat gas is slumping.

2. The financial stocks are hanging in there to start the week. The Regional Bank ETF (KRE) is actually trading higher by 0.50%. Traders must keep an eye on this sector as it is the bloodline of the markets right now.

3. The tech heavy NASDAQ-100 is under pressure this morning trading lower by .50%. The NASDAQ-100 is actually overbought in the short term and many leading stocks such as Apple and Microsoft (MSFT) are extended and into resistance.

4. This is a holiday shortened trading week with the market closed for the Good Friday holiday. Passover also begins on Wednesday so volume trends are expected to be light throughout the week.

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