Market Summary
| Index | Value | Change | Percentage |
|---|---|---|---|
| Dow | 30,967.82 | -129.44 | -0.42 |
| S&P 500 | 3,831.39 | 6.06 | 0.16 |
| Nasdaq | 11,322.24 | 194.40 | 1.75 |
| Russel 2K | 1,741.33 | 13.57 | 0.79 |
| VIX | 27.54 | 0.01 | 0.04 |
The roller coaster ride of the market is worst than the rides in Magic Mountain! Dow Jones had almost 700 point drop but recovered most of it and closed down 0.42%. S&P had a similar effect, it closed positive. Nasdaq had a solid day with almost 2 percent gain. VIX stayed stable.
TSLA had a wild ride. At one point lost 60 points, closed in green territory. Volume was high. Deutsche bank says Tesla should have a strong second half. As a Tesla stock holder I think that would be a sign of relief as Tesla stock took a beating in the first half. BYD surpasses EV sales in H1.
I think the month of July will be very volatile. July is up 48% historically. This link shows historical data for the month of July. Recession fear pushes oil prices below 100. Most analyst now agree there is a mild/severe recession, except for our president. Note, a recession means, the prices for oil will take a nose down dip.
Strategy
- Be prepared for recession that is now in my opinion inevitable - agreed by most analyst.
- Timing the market is nearly impossible!
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