“Rosy” CPI/PPI Numbers Lift Markets with Nick Santiago (Ep #502)

June 15, 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 number was released yesterday. The market liked it and reacted with a rally. Today, the PPI number was released and it was again well received. Now later today, the FOMC will announce their interest rate policy for the US. This time around the Fed is expected to pause and keep the fed funds rate unchanged. This is already baked into the market but the verbiage could move markets. Either way, the Fed rarely surprises the investing community.

2. Healthcare stocks are getting hammered today after United Health announced higher health care costs at a conference. It’s interesting how this news comes out during a quadruple witching options expiration week. Stocks such as UNH, CI, HUM are getting slammed. I actually bought more CVS Healthcare call options this morning.

3. Today is Whipsaw Wednesday. It’s often a time when rallies will be sold off and sharp declines will see sharp bounces intra-day. Expect stocks to be all over the place.

4. Gold is catching a bid today after falling yesterday. Gold futures still remain above the $1940 level on the daily chart and that is the important support level to hold right now. A weekly close below that key level would likely start a further decline.

5. Bitcoin is holding up today trading higher by 0.50%. The popular crypto is hanging in there this week, but this week’s close will tell me more. To its credit Bitcoin remains above the psychological 25K level.

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