Daily Market Wisdom with Nick Santiago

1. Meme stocks retreat. Many of the leading meme runners are stalling out this morning and are beginning to pull back. Yesterday's big winner was Clover Health Investments Corp (CLOV). Today, this gapped up to $28.85 a share and has rolled over and trades just above $22.00 now. Wendys Company (WEN) was another big meme winner yesterday, but today that has dropped lower by 6.5%. What stock will be...

1. Bitcoin is testing the 200-day moving average again. The popular crypto currency is testing its important 200-day moving average again. A weekly close below this key level is very negative and will likely signal a further decline. The may 19, 2021 low at 30,205 is also a critical support level in the near term. 2. The major stock indexes are mixed again. The DJIA (DIA) and the S&P 500 Index (SP...

1. Quiet start to the week. The small caps Russell 2000 are strong indicating there are no real problems out there at the moment. Other averages are flat. Big Friday PPT rally. Jobs were down, not nearly living up to expectations. Lots of restrictions still happening in Cali. For the most 2. Bitcoin holds up after the Miami Crypto conference. If 2021 is 2017, look for it to break big on the downsi...

1. Goldilocks non-farm payroll job report. The report was better than last month, but not as good as expected. The market loves it, this keeps the Fed money printing alive and the so-called tapering is off the table for now. Markets love easy money as you know.    2. Elon Musk is at it again with his tweeting about cryptos. This time around he is saying that he is breaking up with his love for the...

1. Meme stocks are selling off today after a huge run yesterday. $AMC, $GME, $KOSS $WKHS. Workhorse is working things out. They’ve made a mockery of the stock market. These things take off out of the blue due to a big short position. It’s blowing shorts out of the market. When the market does fall, there will be no one there to support it. All the central banks are responsible for this mess and th...

1. There is some money rotation going on today so far. The Dow Jones Industrial Average (DIA), NASDAQ (QQQ) and S&P 500 Index (SPY) are trading slightly higher to start the session. On the flip side, the Russell 2000 Index (IWM) is pulling back. Volume is light so there is no real issue yet.  2.  The so-called meme stocks continue to dominate the headlines and the market action. While we have beco...

1. The markets are mixed to start the new month. The tech heavy NASDAQ and NASDAQ 100 are slightly negative to start the session, but it is a flat day overall.  Oil is the big topic today. Earlier for Reuters, OPEC+ agrees to keep existing plan in place which calls for gradual easing of oil supply cuts. This has crude on the rise today, Oil is higher by $2.39 a barrell. Energy stocks are all very...

1. Everything is up in today’s session. The Dow Jones Industrial Average (DIA) , Russell 2000 Index (IWM) and the S&P 500 Index (SPY) are positive to start the session. Sam with the tech heavy NASDAQ (QQQ) is slightly lower. Volume is expected to be light as we get closer to the Memorial Day holiday. As long as the volume remains light I would expect a flat to positive trade day.   2. Gold/Silver...

1. So far today it is a quiet session. This is typical ahead of a major holiday weekend in the United States. On May 31st, it will be Memorial Day and the markets will be closed in the US. Often, the week before the holiday is quiet and that is what we are so seeing at the moment.  2. Bitcoin just wait till it breaks its 200 day moving average and the $30,000 pyschological level. It’s lights out a...

1. Markets are starting out higher across the board to begin the week. The tech heavy NASDAQ Composite is leading the charge trading up 1.2%.  Volume trends are very light so far today. Light volume favors a buoyant to upside market. 2. The crypto currencies are bouncing today. Bitcoin is actually back to 38,000. Traders must remember,  a close below the 200-day moving average which is around the...

1. Options expiration for May is today. The trading week has been a rollercoaster ride but it looks like we will have a flat week when it is all said and done. Next week is when we can get back to business as this options expiration game playing is behind us. 2. Earlier today, China's Liu He reiterates stance, "crack down on bitcoin" coming; wants to prevent, control financial risks, maintain a st...

1. As the markets fall today it is Bitcoin and the crypto currency story that is front and center. Bitcoin traded down to 30,205. Believe it or not, this level is the daily chart 200-day moving average. If this level fails to hold as support then Bitcoin is headed down to 21,000. After 21,000, 5,000 is a real possibility. https://www.kitco.com/news/2021-05-19/Crypto-price-collapse-Bitcoin-ethereum...

1. It's a mixed session out here today. The Russell 2000 index (IWM) which represents small cap stocks in the United States is trading higher along with the tech heavy NASDAQ Composite. On the flip side, the Dow Jones Industrial Average (DIA) and the S&P 500 Index (SPY) are slightly negative. As You know, this Friday is options expiration for May. This is usually just going to be choppy week as th...

1. Markets are starting out on the weak side today. All of the major stock indexes are trading slightly lower to begin the trading week. Traders and investors should note that this coming Friday is options expiration for the month of May. Often, options expiration trading weeks will be filled with a lot of rumors and ridiculous upgrades and downgrades by the large institutional firms. This is a pe...

1. Markets bounced yesterday gaining a bit back from Wednesday's bloodbath decline. Today is a Friday so we always give the markets an upside bias on Friday. After the decline we saw earlier this week I would have to think that the central bankers do not want a sharp Friday decline for fear of a Black Monday event. Either way, stocks are higher today. 2. Dogecoin gets a blessing from Elon Musk. Th...

1. The Major market indexes were hammered yesterday in a broad based decline. The only industry group that held up was energy, but even that group faded quite a bit from its morning highs. The volume was very heavy and that is a big warning sign for me that we have entered the danger zone for the markets.   Today, the major stock indexes are rebounding nicely to start the day, but remember the say...

1. Markets are lower again today across the board. Tech is leading the declines trading down by 1.50%. The semiconductor ETF (SMH) is trading lower by nearly 3.0%. Everyone should watch this very closely. Earlier today, there was a hot CPI (Consumer Price Index) number released. CPI increased 0.8% in April, Core CPI, which excludes food and energy, increased 0.9%. The Fed heads (central bankers) c...

1. By the closing bell Monday, all of the major indexes finished sharply negative. Even the Dow Jones Industrial Average (DIA) rolled over after being positive earlier in the session. This is what we call a reversal day for the DJIA. The tech heavy NASDAQ Composite was down 2.5% along with the Russell 2000 Index. This morning, the major stock indexes all gapped down lower to start the day, but the...

1. Today is a much more subdued trading session after yesterday's wild action. yesterday, the market came roaring back into the closing bell. The Dow Jones Industrial Average (DJIA) actually finished positive by the close. Today, we are back to a much lighter volume session, so it will be important to see the charts by the close.   2. Now this should be the talk of town right now. Yesterday, news...

1. The highly anticipated non-farm payroll report was released this morning. It reported just 266,000 new jobs. The expectations were for over 1 million jobs. So this was a really bad and weak number. The crazy thing is that it is positive for stocks at this time. Hence, we have a rally out here today.  2. You see, the market only cares about the easy money from the central bankers. If the job num...

1. Yesterday's stock market close was weak again. This weakness occurred despite the light volume session. Technology stocks struggled and the small cap Russell 2000 Index (IWM) showed weakness as well. The Dow Jones Industrial Average (DIA) was where the strength was and continues to be. As I've said before, I never like when the Dow Jones Industrial Average leads the indexes higher. It was the b...

1. Today is a much more subdued trading session after yesterday's wild action. yesterday, the market came roaring back into the closing bell. The Dow Jones Industrial Average (DJIA) actually finished positive by the close. Today, we are back to a much lighter volume session, so it will be important to see the charts by the close.   2. Now this should be the talk of town right now. Yesterday, news...

1. The major stock indexes are under some early pressure today. Technology stocks are falling the most to start the session. The decline is somewhat broad-based, but it will be important to see where we finish the day. Remember, it's not how the market opens, but more important how it closes. Let’s see what the volume looks like. Right it’s ticking up. Markets are on borrowed time. Archegos led to...

1. The 'Friday Effect' finally failed to play out. Believe it or not, the major stock indexes finished negative this past Friday. The trading volume was not very heavy so it did not mean all that much. Either way, the up-trend in the market is still intact. Amazon had a decline Friday, it couldn’t hold onto its gains. Now Amazon, Apple and Microsoft have had stellar earnings and all sold off. Appl...

1.  Amazing fade for Apple yesterday and then the turn around came. Today the major stock indexes are staring out a little on the weaker side this morning. Amazon is strong after reporting earnings, but there are some really ugly market reactions to some leading semiconductor stocks that seem to be weighing on the market. Leading semiconductor stock Skyworks Solutions (SWKS)is down 8.5% and Cirrus...