Nick’s Big Retirement Announcement — Nick Santiago 1-29-24 #560

Daily Market Wisdom with Nick Santiago

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.
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