Daily Market Wisdom with Nick Santiago

1. Markets staged another downside reversal day in yesterday's session. Today, the major stock indexes are experiencing some early selling pressure. In my opinion, the open does not matter as it is really all about the close. I'm looking for further market weakness, but there are always bounces along the way.  Earlier this morning, the Weekly Initial Claims report was released. There were 684K new...

1. This morning, the major indexes are mostly higher to start the session. The technology heavy NASDAQ Composite is the only index that is slightly negative. Yesterday, the major stock indexes saw some sharp late day selling pressure after Federal Reserve Chairman Jay Powell and Treasury Secretary Janet Yellen finished their testimony on Capitol Hill. So today's close will be very important for th...

1. Federal Reserve Chairman Jay Powell and Treasury Secretary Janet Yellen will speak later today before the House Financial Services Committee. Last night, Chairman Powell released his prepared remarks and said " the recovery is far from complete" and the Fed will "continue to provide the economy the support that it needs for as long as it takes." Basically, they are giving the market a green lig...

1. We are looking at a mixed Monday so far today. It looks like there is some early strength in tech and the NASDAQ Composite as yields pullback in the 10-year note. The small cap Russell 2000 Index is trading lower by 1.0% to start the day. This comes as the regional banks decline this morning. Remember, the Russell 2000 Index is filled with a lot of small bank stocks. In fact, the SPDR S&P Regio...

1. Today, the major stock indexes ended mixed by the closing bell. The DJIA was big loser declining lower by -.71%. The NASDAQ Composite and the Russell 2000 were the big winners ending higher by 0.76%.  This was a quadruple witching options expiration trading session and it's finally over. This was another Friday where the markets hung in there and did not experience any major sell off. So far we...

1. Yesterday the Federal Reserve Chairman Jay Powell said that he is going to keep the printing presses running. The major stock indexes rallied sharply higher after the FOMC statement. Today, the markets are retreating a bit as yields on the 10-year note climb 9 basis points to 1.73%. The tech sector is getting hit the most on the back of higher bond yields. Nasdaq finished down 3%. Dow made a ne...

1. This morning, the major indexes are starting out a little on the weaker side. The Dow Jones Industrial Average (DIA) is the lone winner today trading up about 0.20%. This is an options expiration week so we should expect some whipsaw in many leading stocks into Friday. The Russell is starting to sell-off. Tech has failed to make a new high. Interesting week going into Options-Ex We’ve had many...

1. It seems that technology is catching another bid this morning as we have the NASDAQ Composite trading higher by 0.55% on the day. There seems to be some rotation going on as we are seeing the energy and financial sectors pulling back a bit and money rotating back into technology. The volume trends have definitely started to lighten up over the past few sessions and as we all know by now, light...

1. The stock markets are mixed this morning. The tech heavy NASDAQ is getting sold off at the start of the session as bond yields surge higher. The 10-year U.S. Treasury Note yield is now at 1.619%, up 9 basis points. The Dow Jones Industrial Average (DJIA) is acting well trading up about 0.40%. This will be interesting to see how we close this Friday session. As you know, last Friday the markets...

1. The major stock indexes are rallying higher again today. it seems that there is really no fear out here at this time. Earlier this morning, ECB President Christine Laggard said that she expects to conduct its asset purchases at a significantly higher pace over the next quarter than during the first months of this year. So markets seem to be responding positive to her comments. There there was t...

1. Stocks rallied yesterday and they are again catching a bit higher this morning. So far this week, fear in the market has subsided, but this is likely to be short lived. It will be important to watch the chart patterns that form over the next week or two. Lots of signs of weakness. Semi-conductors are down while the market is rallying. They’re in everything we use, much like Doctor Copper. Games...

1. This morning, the major stock indexes are bouncing sharply higher. Today's move is being led by the tech heavy NASDAQ Composite and NASDAQ-100 over 3 percent. Tech has been oversold a bit, so today it is the best performer. It should be noted that tech was down by 2.5% yesterday, so it is only regaining what it lost yesterday. I still think tech heads lower after a short term bounce. Chart reco...

1. Last Friday was certainly a wild trading day. The PPT did there thing and the markets reacted accordingly. There was a huge gap higher open after a better than expected job report. Then the markets sold off sharply going negative across the board into the 11:30 am time period. This was then followed by a strong  broad based rally  into the close. Hence, it's not how they open, but rather how th...

1. This  morning, the S&P 500 futures sured higher by nearly 50 points after the non-farm payroll report. Then shortly after the opening bell the market rolled over and is now negative across the board. The Russell 2000 index is trading down by 2.2%, leading the decline in the major indexes. The tech heavy Nasdaq Composite is also getting hammered trading lower by 2.14%. The close today will tell...

1. Today, we received the Initial Weekly Claims report. The report said that there were 745K new weekly claims. This was somewhat in-line with expectations. The big story today is really coming from Federal Reserve Chairman Jay Powell. he will be speaking around noon today. There have been a lot of problems in the market since last week when he testified on Capitol Hill. 2. The financial stocks ha...

1. This morning the major stocks indexes are a bit on the weaker side. This comes after the futures markets were sharply higher ahead of the opening bell. Higher rates are the catalyst for the decline. At least that is what is being told to us by the financial media. Russell is up and so is the Dow. Dow keeps winning. Financial stocks will benefit from a steeper yield curve. All the big banks are...

1. Yesterday, the major stock indexes staged a broad based rally. The move higher was very strong, but this is the type of action that traders should expect when markets are just a little off of the all time highs. Today, markets are a little weaker so it will be important to see where we finish today.   Yields on the 10-year U.S. Treasury Note are pulling back again today, but stocks are struggli...

1. This morning, the major stock indexes are starting out with a strong upside rally. In fact, when the futures opened up on Sunday night they were strong. The financial media is telling us that the pullback in the 10-year U.S. Treasury Note yield is the catalyst for the rally. This might be true today, but then does it mean that the market will rollover when yields start to move higher again? Aft...

1. Markets are trying to rebound after yesterday's broad based high volume decline. Often, the major stock indexes will bounce after a 90% down day and that might be what we see today. Either way, the catalyst for the bounce this morning is due to bond yields pulling back. Today, the 10-year U.S. Treasury Note yield is lower by about 5 basis points to 1.47%. This morning yields hit 1.61%. Very ext...

1. Major sell-off day. Every sector is down, including Russell 2000. It led the decline down 3.7% A total blood bath on massive volume. Nick’s cautionary words are coming true. Broad-based sell-off across the board. What goes up parabolic will eventually come down the same way. Nasdaq down 3.5%. It’s not too late for the trade of the decade. Go over to InTheMoneyStocks.com and findout. Time to ren...

1. Yesterday was another wild day on Wall Street. First we had an early sell-off followed by a bounce for most of the afternoon. Tech seems to be the weak link right now. Small caps (IWM), energy (XLE), transports (IYT) and financials (XLF) are where the strength is currently. Great run in oil. Probably set off by the Keystone Pipeline decision. Crude is up to nearly $63 per bbl. Look at the price...

1. Markets are starting the day with a sharp decline. So it will be important to see where they close today. Hence the saying, it's not how they open, but how they close. There have been so many cases where the markets drop sharply only to reverse higher or significantly off the lows y the end of the day.  2. Today, we are seeing the NASDAQ and the Russell 2000 leading the major stock indexes to t...

1. Markets gapped down, rallied back and Nasdaq lost 341 points. 2pm markets were sideways and then a real sell-off. Unusual late Monday sell-off. No news to blame it on so far. Interest rates headed up to 1.37%. Utilities, housing, commercial real estate and other sectors could be hammered. 92% of NYC restaurants are behind. on their rent. How many small businesses have shut down from the lockdow...

1. Markets are flying higher today so far today. This is an options expiration Friday so the institutional trades have a goal to place certain equities at specific prices by the close today. So take it slow today. Pin the tail on the donkey. Always leave time on the clock for options. Gap higher open on light volume. 2. Some positives today, the transports are ripping higher. That is a sign of str...

1. There is a very good sell-off underway this morning. But later around lunch it came roaring back. Not much damage done but the institutions are selling off stock. Very often, the major stock indexes will  bounce back in the afternoon when the volume is this light. so we have to remember, it's not how they open, but how they close. Decline is sharp and broad-based. Volume hasn’t kicked in yet. I...