Daily Market Wisdom with Nick Santiago Kerry Lutz

This is perhaps our last show

1. Google, MSFT and AMD are leading the headlines today. They are all dropping after reporting earnings. Alphabet (GOOG) is the biggest loser falling by nearly 6.0%. This news is weighing on the NASDAQ which is trading lower by 1.17%. Like I said last week, these stocks are all priced for perfection after the recent run up. On Thursday, AAPL, AMZN and META are all scheduled to report after the closing bell.

2. Regional banks are coming under some selling pressure today as well. The Regional bank ETF (KRE) is trading lower by 3.85%. This comes after New York Community Bank (NYCB) earnings. That stock is trading lower by 36%.

3. Later today, the FOMC decision will be at 2:00 ET, followed by Fed Chair Powell's press conference at 2:30pm ET. The Fed is expected to keep rates unchanged.

4. Gold is having a good day trading higher by 1.0%. Everytime gold looks like it is going to rollover it catches a bid. This chart must be watched like a hawk right now. The breakout does not happen until you get a monthly chart close above $2100. Either way, the trend is still up and that is important.

5. Bitcoin is pulling back today after staging a 1-week bounce. If anyone bought bitcoin at the recent low I would put a top loss at break-even now and protect that trade. It is still possible to trade higher, but if a lower high is made the recent lows could be retested.

Gamestop Movie Dumb Money Link https://www.imdb.com/title/tt13957560/

Visit Nick’s site @ https://InTheMoneyStocks.com

1. It's a quiet start for the major indexes this Monday morning. While the indexes are higher they are just slightly positive.

2. This Is a huge week for earnings. Mega cap stocks such as MSFT, AAPL. AMZN, META, and AMD are all scheduled to report this week.

3. Oil,nat gas and energy are weaker today. This industry group remains very choppy for the past several months.

4. The Fed announcement is this Wednesday. I do not expect the central bank to do anything this week when it comes to rate cuts. The verbiage will obviously be important. Remember, in December, Chairman Powell pivoted suddenly so you never know what he will say going forward.

5. Gold is upticking a little today, but as I said last week, I need to see more of the pattern as it develops. Gold futures remain above the important $2000 level and there is nothing wrong if it just chops around this area.

6. Bitcoin is up a little today after a bif Friday pop. While there should be more of a bounce the pattern it forms will be very important going forward.

Visit Nick @ https://InTheMoneyStocks.com

1. Earnings season is underway. Netflix (NFLX) reported last night and that stock is a big winner this morning trading higher by 13%. Texas Instruments (TXN) on the other hand is trading down by 2.8%. Then we have consumer goods stock Kimberly Clark (KMB) trading lower by 4.5%. This stock is dragging most of the consumer goods names lower. Clorox, Colgate and Church & Dwight are falling in sympathy with Kimberly Clark. This week earnings are reving up, but next week is when we really hit full throttle with earnings reports.

2. The small caps were lagging a little today. The Russell 2000 Index (IWM) was trading lower by 0.20%, but now up 0.25%. Outside of that the major indexes seem fine and continue to ramp up almost every trading session.

3. Gold is declining a little today trading down about 0.30%. The precious metal is still holding the psychological $2000 level. Traders and investors like myself are keeping a close eye on the pattern that forms over the next couple weeks. If you have a long term outlook then there is nothing wrong. In the short term I continue to see choppiness.

4. Bitcoin is trying to catch a bounce after hitting daily chart support. Last week, I pointed out that a pullback was underway and the $39,600 level would be some short term daily chart support. That support level was pierced yesterday and today the popular crypto is catching a bid. Remember, nothing goes down in a straight line.

1.The major stock indexes are rallying higher again this morning. Last friday, the S&P 500 Index closed at a new all time high after 2-years. Currently, that market remains strong and in an uptrend.

2. Earnings season kicks into full gear this week. Last week, earnings season began, but the number of companies reporting was very light. This week we shall see earnings from all different industry groups. Buckle up, this could be a wild earnings period.

3. Alternative energy and solar stocks are trading higher today leading the charge. This group could be putting in a bottom as they have been declining since January 2021. This is a solid trade idea for 2024.

4. Gold is trading slightly lower today. There is some minor daily chart support around the $2000 level. Gold support levels and chart patterns will be important to track this year. Right now, Id wait for more information.

Silver is very weak again today. This has been lagging gold. Silver has some daily chart support around the $22.00 area in the near term.

5. Bitcoin futures are trading lower today. I see daily chart support around the $39,600 area. So far, since the approval of the Bitcoin spot ETP's the crypto currency has sold off.

Visit Nick @ https://InTheMoneyStocks.com

1.The major stock indexes are starting out a little on the weak side today. At this time, the major indexes have been trading in a tight range since mid-December.

2. Earlier this morning, the retail sales report was stronger than expected. This is signaling that consumers are still strong and that might keep the Fed from cutting rates. The next FOMC meeting is on Jan 31st. Personally, I think the Fed is going to sit tight and not cut until the middle of the year if at all.

2A. This Friday is options expiration for the month of January. This is a time to watch for a lot of institutional game playing. This is the week of rumors, wacky news, and ridiculous upgrades & downgrades. In other words, expect the unexpected.

3. Oil is selling off today and is now testing the $71.00 level. A weekly close below the December lows will trigger a sharp sell signal for crude down to the $55.00 level.

4. Gold has been under pressure this week and is down today by 0.50%. There is some daily chart support for Gold futures around the $2000 level. The next key support area will be around the $1900 area.

5. Bitcoin futures are falling today. I'm seeing support on the futures chart around the $39.6000 area in the near term. So far, Bitcoin has been a sell the news event since the EFP approval.

Visit Nick @ https://InTheMoneyStocks.com

1.Earnings season kicked off today with JPM and other financial reporting.

2. Oil and energy are rallying after the US and UK conducted strikes against military targets in Houthi-controlled areas of Yemen

3. Next week is options ex for January.

4. Gold and silver are catching an early bid.

5. Bitcoin slumps after spot ETP approval

Visit Nick @ https://InTheMoneyStocks.com