Summer Solstice Rally Continues with Nick Santiago 6-22-22 #402
Jun 22, 2022 ·
5m 46s
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Description
1. Markets are holding firm after a strong gap lower open. Yesterday, the major indexes staged a solid broad based rally. We shall see if they can keep it going...
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1. Markets are holding firm after a strong gap lower open. Yesterday, the major indexes staged a solid broad based rally. We shall see if they can keep it going into the close today. Often after a big rally we see a more subdued market so that is likely today.
2. Fed Chairman Jay Powell is testifying in front of the Senate Banking Committee. This used to be called the semi-annual Humprey Hawkings testimony. Powell is being asked how he is going to fix the inflation problem that the US consumer is facing. While a lot of the inflation in the US is caused by the Fed's money printing it is also monetary policy that is a huge problem and that doesn't seem to have an end in sight. Obviously, energy inflation could be solved rather quickly, but it won't be.
3. Gold is catching a bid today.
4. Bitcoin is pulling back a little but still trading above the psychological 20,000 level. Could bounce up to 25k to 27.5, but Nick’s
show less
2. Fed Chairman Jay Powell is testifying in front of the Senate Banking Committee. This used to be called the semi-annual Humprey Hawkings testimony. Powell is being asked how he is going to fix the inflation problem that the US consumer is facing. While a lot of the inflation in the US is caused by the Fed's money printing it is also monetary policy that is a huge problem and that doesn't seem to have an end in sight. Obviously, energy inflation could be solved rather quickly, but it won't be.
3. Gold is catching a bid today.
4. Bitcoin is pulling back a little but still trading above the psychological 20,000 level. Could bounce up to 25k to 27.5, but Nick’s
Information
Author | Kerry Lutz |
Organization | Kerry Lutz |
Website | - |
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