Euclid Investment Advisory Blog

Euclid Market Update & Analysis July 19, 2021

Comments

Equities:

All stock indices fell today, fearing renewed lockdowns and economic slowdown from the surge of Covid cases among the un-vaccinated. Energy was doubly hit with OPEC+ announcing to increase oil production. The drop was too far too fast, suggesting panic selling. Indeed, at Monday’s close, only 17% on NYSE stocks advanced vs. 80% declined. The number of new highs was 2 vs. 91 for new lows.

The S&P Large Cap, and the NASDAQ Composite remain strategically Bullish; Mid and Small Caps, and Emerging Markets are on Bear alert; China is in Bear market.


Equity Styles: Large Cap Growth continues leading vs. Large Cap Value, Small, Mid Cap and equal weight indices.

SectorsLeaders - Real Estate, Technology, Communication Services, Health Care.

Laggards -Consumer Discretionary, Utilities, Industrials, Basic Materials, Energy.

Interest Rates:

The 30-year US Treasury Bond, and 10-year Note Yields downtrends surged
further down; with the 2-year note yield fell to 0.21.

The Yield curve long term flattened further, spread decreased to 0.98 from 1.11.

Currencies:

The Australian Dollar, the British Pound, and the Euro weakened further vs. US Dollar. Gold rose slightly, now closed its June 17 down gap.

The US Dollar rose further, approaching its March 31, 2021 high.

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