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 -
As bad as [this year] has been for investors, the good news is previous years that were down at least 15% at the midway point to the year saw the final six months higher every single time, with an average return of nearly 24%,” LPL Financial chief market strategist Ryan Detrick noted earlier this week.
I certainly hope Ryan is correct. VIX remaining below 28 is encouraging as well. At the end there are real FUD exists in market, and I predict if the fear gage does not go down, we will not see sustainable market recovery. The operative term here is “sustainable”.
Strategy : Look for short term gains; hold on to the long term securities.
News
Robinhood shares jump 14% on report FTX may be exploring a deal
Crypto fund defaults on $670M loan, and Bitfury CEO says prices aren’t ‘relevant’: CNBC Crypto World