Euclid Investment Advisory Blog

Review & Analysis at Close June 7, 2021

Comments

Equities

The S&P Large Cap, Mid Cap and European Indexes are strategically Bullish However, Emerging Markets and China are both weak.

  • Equity Styles (one month rank): Large Cap Value continues to be Stronger vs. Large Cap Growth. The Equal Weight S&P 500 is leading the S&P 500 Capitalization Weight Index.


  • Ranked Sectors: Leaders - Energy, Real Estate, Financials, and Materials;
    Laggards - Consumer Discretionary, Utilities, Staples and Health Care.

Interest Rates

Trends of the 30-year US Treasury Bond and 10-year Note Yields are weakening and nearing the Long Term Trend Lines that may provide support. The Yield Curve is positive with the spread moving sideways with a bias toward the upside and nearing a rising trend line which may provide support for it.

Currencies

The Australian Dollar (a proxy for China) is moving sideways, as is the Euro. The British Pound holds a slight upward bias. The Yen is bearish. Gold is Bullish and has pulled back from short term overbought. The US Dollar while strategically Bearish, has made a triple bottom. This may reverse up here, depending on US Interest Rates which may rise. This is potentially negative for emerging markets.

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