The Roaring 2020’s — Nick Santiago 1-22-24 #557

Daily Market Wisdom with Nick Santiago

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.
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