Daily Market Wisdom with Nick Santiago

1. Once again, the markets are a little mixed this morning. The Russell 2000 Index (IWM) and the NASDAQ Composite (QQQ) are showing good strength to start the day. The DJIA (DIA) and the S&P 500 Index (SPY) are a little weak. Overall, there is nothing great or terrible. This is a holiday shortened trading week, so barring any major geopolitical events the volume is expected to be light and that sh...

1. Once again, the markets are a little mixed this morning. The Russell 2000 Index (IWM) and the NASDAQ Composite (QQQ) are showing good strength to start the day. The DJIA (DIA) and the S&P 500 Index (SPY) are a little weak. Overall, there is nothing great or terrible. This is a holiday shortened trading week, so barring any major geopolitical events the volume is expected to be light and that sh...

1. The markets are down big this morning. The catalyst for the decline is a new virus strain discovered in the UK.At this time, the markets were overbought and the sell off matches up with the Winter Solstice. Often, markets will change trend around equinoxes and solstices. We shall see if this is just short term or maybe more meaningful. Seasonality is usually favorable for more upside, but this...

1. The major stock indexes are selling off slightly. This Is a quadruple witching options expiration. So we would look for a tame session into the final hour. Then there will be some rebalancing in some of the indexes. Russell 2000 is up 1/2 percent. The Russell has re-emerged. It’s getting extended. In March melt down it was trading less than half what it is right now. Due to the exercise of opti...

1. The Weekly Initial claims for the week ending December 12 increased by 23,000 to 885,000. This was higher than expected for the second week in a row. Continuing claims for the week ending December 5 decreased by 273,000 to 5.508 million, which was the lowest level since March.  2. Right now, the markets seem to be really eyeing the next stimulus deal. That is expected to happen this weekend.  3...

1. The markets are a little quiet this morning as they basically trade flat to slightly lower. This is typical after a big rally day like we had yesterday. Today is a flat tape. Avoid near term options, especially now, but at any given time it’s not a great idea. 2. Later today, the Federal Open Market Committee (FOMC) will conclude a 2 day meeting. The central bankers are not expected to make any...

1. This morning, the major stock indexes are holding up pretty well. This is quadruple witching options expiration week so many of the popular stocks could be all over the map into the Friday expiration. Please understand, this is usually a week of institutional game playing. 2. Apple Inc (AAPL) is showing really good strength today trading higher by nearly 4.0%. Apple suppliers are seeing strengt...

1. The major market indexes are starting out higher this morning. The energy stocks seem a little weak, but outside of that the rally looks to be somewhat broad based. Volume trends remain light and that is also a positive for upside as there is a lack of sellers at this time. 2. Friday was a minor down day. Finished off their lows. 3. Traders should note that this coming Friday is options expirat...

1. Markets are a bit weak this morning. There is still no stimulus deal made by the politicians. This could be weighing on the major indexes a little. The weekly initial claims report was released at 8:30 am ET.  The weekly initial claims increased by 137,000 to 853,000. This number was much worse than expected. The  continuing claims for the week ending November 28 increased by 230,000 to 5.757 m...

1. This looks to be another mild trading session. Volume trends have been very light this week and that will usually keep the major stock indexes buoyant. Should we experience a high volume reversal day then the markets could be in some trouble. There are no problems right now.  2. Another positive sign is the strength in the Russell 2000 index (IWM). Remember, the Russell 2000 Index represents sm...

1. Today, the major stock indexes are stalling out a bit. So far, this looks to be just some consolidation after a big run up that we saw last week. The Russell 2000 Index (IWM, $RUT) is actually positive this morning by 0.13% and that is a good sign for a continued run higher. A breather is due. 2. Home-builder stocks continue to struggle. Earlier this year that industry group was one of the stro...

1. Markets are pulling back a bit this morning. This type of action is common after a big rally like we saw last week. Today, we are seeing some weakness in the big banks, energy and many leading industrial names. Basically, last week's winners are retreating today.  2. Election hangover every day we’re getting new disclosures about massive election fraud. It’s important for the markets to see whi...

1. The BLS non-farm payroll report was released today. It showed just an increase of just 245,000 new jobs. Expectations were for 410,000 new non-farm payrolls.  While this was less than expected the markets are holding up so far. Last month the report showed a gain of 610,000. The unemployment rate is 6.7% which was in line with expectations. I think the markets are looking forward and focusing o...

1. Earlier today, we got the initial weekly claims report. The number was 712K new claims. This was better than the expected 775K new claims. Continuing claims for the week ending November 21 decreased by 569,000 to 5.520 million. Overall, the stock market is hanging in well. 2.As for the markets, they are still holding up well today. I do not see any problems right now. Seasonality trends are in...

1. Markets are stalling out a little today, but surged higher yesterday. This is common to see some backing and filling after a large point advance. Financial and energy are acting well. Russel 2000’s leadership is very important. When people invest in small caps they’re looking for growth unlike the big board. Financial and energy are rallying and becoming leaders. It’s surprising to see energy w...

1. Markets are in rally mode again this morning. Yesterday, stocks stalled out as some money came off the table in the final trading session of November. But today it seems that money is flowing right back in. November was one of the best months that the market has ever had. Hard to explain why money flowed out yesterday and back in today. Markets have discounted the election for now. But Biden as...

1. Yesterday, the markets staged a solid rally led by the Russell 2000 (IWM). Remember, the Russell 2000 Index represents small cap companies in the United States. That is definitely a positive in the near term. The Russell 2000 Index has been a laggard since 2018 is now making new all time highs and is up 9.0% this year. The Russell declined the least during the September sell-off and now it’s sh...

1. The weekly initial jobless claims upticked to 778,000.  Today's number was higher than last week's revised count of 748,000. As for continuing claims for the week ending November 14th, they decreased by 299,000 to 6.071 million from a revised count of 6.370 million. 2. Markets are pulling back today after a solid rally yesterday. Tomorrow is the Thanksgiving day holiday so volume should be ligh...

1. The markets are trading higher this morning. The big news is coming from Astrazeneca (AZN), they  said one of the dosing regimens in its clinical trial done in partnership with Oxford was found to be 90% effective in preventing the coronavirus. This seems to be coming a regular Monday occurrence. Then there was news out from Regeneron Pharmaceuticals (REGN). The company said it received emergen...

1. The Weekly Initial Claims report was released today, it showed that there were 724K new claims. This is a slight uptick from last week's 711K claims. The Weekly Continuing Claims were 6.372 million the prior revised to 6.801 million. Slightly better than expected. More shutdowns looming. NYC closing down again which isn’t that bad. 2. Markets today a slightly weaker opening. Dow is down. Russel...

1. Markets yesterday’s action was very encouraging. Russell 2000 was up and today Transports went higher yesterday after gapping lower. Today they’re hitting a new alltime record high today. Nasdaq is down and S&P 500 is up slightly. Overall nothing terrible. Retailers are acting well. Ross Stores, TJX and others are up. Money is coming out of tech. Financials are catching a nice bid. Wells Fargo,...

1. Markets are selling off today in a broad based decline. Today's move is reversing a lot of the gains made yesterday. It seems that lockdowns around the country are spooking the markets today, despite all of the vaccine news that we have been hearing lately. 2. It seems like the cloud software stocks are doing the best today. It is understandable since they are usually considered the stay at hom...

1. Today’s another big Monday. Look for back and fill. Dow up 460, Russell 2000 up 41, new closing 52 week high. Nasdaq up just under 1 percent. It struggled. S&P 500 up 1.25%. Good day all around on okay volume. Bottom right before the election. We’re getting over bought. Market is optimistic about a vaccine. Moderna is supposedly 95% effective. Markets likes the news. Grid lock is good. 2. Trave...

1. Markets are holding up well this morning. But we must remember, it is not how they open but how they close. Energy stocks, financial stocks and retail stocks are all participating so far today. The trading volume looks light in the SPY, so that usually means it's going to be a buoyant market. Russell 2000 is up 1.6%, it’s showing leadership. Broader market is participating. Election is not affe...

1. The weekly initial jobless claims report was + 709,000,  expectations were 740,000. This number was an improvement over last week's revised count of 757,000. As for continuing claims, they declined to 6.786 mln from a revised count of 7.222 mln. So this is a slow improvement.  2. Markets are pulling back a little today. This is not unusual after such a big advance over the past week. Right now,...