Big Payroll Miss…

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from Daily Market Wisdom with Nick Santiago

For more than 20 years, Master Trader Nick Santiago has been beating the markets. He’s made some incredible calls along the way and now he’s looking to spread the word. There’s no reason that the average trader should be coming up short. So now we’ve started a daily show to bring you up to date on the latest market developments. Nick will be sharing trades and concepts and discussing current trends.

Today:

1. This is the first day of September. Markets are trading mixed to start the day. Often, the markets will see some money come in to begin the month. At this time, I simply expect light volume into the end of the week as we go into the Labor Day holiday.

2. The ADP private payroll report was released earlier today. They reported just 374K new jobs, This was a big miss as the expectation was for 600K. This Friday, the BLS will report the non-farm payroll report for August. We shall see how the market reacts to the number. Generally, a hot number will spark the taper talk up by the Federal Reserve. As you know by now, I only care about the market’s reaction to the news.

3. Silver is showing better strength than gold today. Silver staged a strong move on August 28th and we are starting to see it rally higher today after a two day pause. I expect more near term upside for the metal. (Full disclosure: I own SLV shares)

4. Bitcoin hodling steady.

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