All Markets Are Bought With Copper Roofs - Nick Santiago 9-15-20 #117
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Description
1. Markets seem to be strong right out of the gate this morning. All of the major stock indexes are higher, but this is a quadruple witching options expiration trading...
show more2. Today started the first of a two day FOMC (Federal Open Market Committee) meeting. Tomorrow, Fed Chairman Jay Powell will announce his interest rate policy for the United States. I'm not expecting any change in policy, but the verbiage could move markets. Again, the central bank has been flooding the markets with liquidity and that is not expected to change anytime soon.
3. Copper and metals are overbought. It’s made an impressive gain and will consolidate and then go higher. It will take out its 2017 high. Copper very similar to gold and silver. It’s been stronger than the gold chart. All markets are bought with copper roofs.(Jesse Livermore) Could very well be telling us that inflationary expectations are picking up. And don’t worry, Nick says there’s no coin shortage.
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