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Closing Bell 6-28-2022

·212 words·1 min·
Trading
Yaheya Quazi
Author
Yaheya Quazi
Indeed, the mercy of Allah is near to the doers of good.

Market Summary

IndexValueChangePercentage
Dow30,946.99-491.27-1.56
S&P 5003,821.55-78.56-2.01
Nasdaq11,181.54-343.01-2.98
Russel 2K1,738.84-32.90-1.86
VIX28.361.415.23

Massive red days are back! All indices are in deep red territory with VIX surging back up above 28 again. Cathie Wood believes US is already in a recession. I think as the month June ends and the market wraps up one of the worst six months of the year in stock market history, we can start to see some uptrend.

Tesla took a beating today, with the stock price dropping below 700 yet again! Discussing new car quality, JP Morgan states below -

“For Tesla, which ranked 7th from the bottom this year, with the same initial quality score as Mitsubishi, panel alignment and poor paint quality were more common problems than customer issues with the company’s mobile app or infotainment.”

Strategy : Take a deep breath!

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Closing Bell 6-27-2022

·233 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,438.26 -62.42 -0.20 S&P 500 3,900.11 -11.63 -0.30 Nasdaq 11,524.55 -83.07 -0.72 Russel 2K 1,771.74 6.01 0.34 VIX 26.95 -0.28 -1.03 Not a green day but not that red either - which is surprising. A big run on Friday and last week, one would assume a massive pull back today - did not happen. Definitely a good sign. Russel 2K ended up green, which is usually indicator for the growth stocks. Read the following this weekend, wanted to share -

Closing Bell 6-24-2022

·331 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 31,500.68 832.32 2.68 S&P 500 3,911.74 375.43 3.34 Nasdaq 11,607.62 179.11 1.62 Russel 2K 1,765.74 54.07 3.16 VIX 27.23 -1.82 -6.27 Well I am happy to report my prediction for the day of the market was absolutely wrong. All major indices were massively green for the day. Solid gains in S&P, Dow and Nasdaq - what a relief.

Closing Bell 6-23-2022

·324 words·2 mins
Trading
Market Summary Index Value Change Percentage Dow 30,677.36 194.23 0.64 S&P 500 3,795.73 35.84 0.95 Nasdaq 11,232.19 179.11 1.62 Russel 2K 1,711.06 20.95 1.25 VIX 29.03 0.10 0.35 What a volatile market! I am glad all indices ended up solid green at the closing bell. VIX continues to go down and that is the actual progress. Bond yields slip that is generally good for the market.

Closing Bell 6-22-2022

·201 words·1 min
Trading
Market Summary Index Value Change Percentage Dow 30,483.13 -47.12 -0.15 S&P 500 3,759.89 -4.90 -0.13 Nasdaq 11,053.08 -16.22 -0.15 Russel 2K 1,690.28 -3.75 -0.22 VIX 28.36 1.41 5.23 NO SURPRISE! Red day, although mid trading day all indexes were green but gave up all the gains by the closing bell. I am glad at least, the down turn is small essentially flat. VIX decreased, which is good. Ideally, we want to see it below 20. We have a long way to go up there!

Closing Bell 6-21-2022

·289 words·2 mins
Trading
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?

Closing Bell 6-17-2022

·195 words·1 min
Trading
Market Summary Index Value Change Percentage Dow 29,888.78 62.46 -0.13 S&P 500 3,674.84 8.07 -0.22 Nasdaq 10,789.35 152.25 1.43 Russel 2K 1,665.69 15.86 0.96 VIX 27.23 -1.82 -6.27 As predicted market ended up closing green - somewhat!. Nasdaq which had taken the worst beating yesterday went up the highest. However, after a brutal day yesterday, one should expect a very green day - that was not the case. DJI essentially closed flat while S&P marginally up. I follow VLO which had a nice run and dropped a bit in the past few weeks.