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Summer Solstice Rally with Nick Santiago 6-21-22 #401

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First published at 17:04 UTC on June 21st, 2022.

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Source:
https://www.spreaker.com/user/appeal2/nick-401

1. Stocks are rallying after having a very rough time last week. Today is the summer solstice, which is the 1st day of summer. As the seasons change on the solstices and equinoxes we will often …

Source:
https://www.spreaker.com/user/appeal2/nick-401

1. Stocks are rallying after having a very rough time last week. Today is the summer solstice, which is the 1st day of summer. As the seasons change on the solstices and equinoxes we will often see the trend in stocks change around solstices and equinoxes as well. While the primary trend is still down, a counter-trend bounce is underway today. The rally is broad based and looks good so far. As always, we must see how the market closes the session.

2. Kellogs (K) announced that they plan to split into 3 separate companies. The stock opped on the news and has now pulled back in fromthe morning highs . Either way, many investors are now thinking that more companies will look to take similar actions to create share holder value. I'm not so sure that will be the case, but it does help sentiment. Tesla is up over 11% today. A 73 point move. It carries a lot of weight now.

3. Bitcoin is bouncing this morning after another wild weekend. While the popular crypto currency lives to fight another day. I still think it will test the 14,000 level at some point over the next few months.

4. Gold is basically flat this morning despite the dollar falling a little. It’s been a choppy and sloppy trade.

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