Market Summary
| Index | Value | Change | Percentage |
|---|---|---|---|
| Dow | 30,530.25 | 641.47 | 2.15 |
| S&P 500 | 3,764.79 | 89.95 | 2.45 |
| Nasdaq | 11,069.30 | 270.95 | 2.51 |
| Russel 2K | 1,694.03 | 28.34 | 1.70 |
| VIX | 30.19 | -0.84 | -2.71 |
A Very green day and what a relief! All indexes are showing solid gains. The million dollar question is - the gain is here to stay?
VIX which measures public sentiment; remains high. In my opinion, VIX >= 28 indicates high [FUD](../(../glossary) (Fear Uncertainty Doubt). Recession fear looms. No doubt, small/large recession is forth coming. Today definitely not a good day to buy anything, as we should watch and monitor the market tomorrow. I certainly hope the gain retains.
Massive losses on Crypto appears to be on pause and yes that is a relief. I believe ETH at one time went down to 890 which is a massive discount for anyone who has the dry powder (cash) to get on ETH. I certainly wish I did.
Finally, TSLA is showing a strong day. After weeks of massive downtrend, the stock is gaining some long awaited steam. Elon Musk clarifies company’s layoff plans. Musk said the company will lay off 3.5% of the workforce, calling the amount “not super material.”
Palantir Technologies — Shares surged more than 7% after Bank of America initiated coverage of the defense tech company with a buy rating. The firm said investors are underestimating the demand for artificial intelligence that should boost Palantir’s stock.
Predictions : I think Wednesday 6/22/2022 will be red. The question is how red!
News : BOFA says next bull market is just months away!
Strategy : (No Change) Look for short term gains; hold on to the long term securities. Same as before, add crypto into the mix for long term holdings.