Euclid Investment Advisory Blog

Review & Analysis at Close January 10, 2022

Comments

After starting the New Year with losses in the first week, the start of the second week looked even worse. However, before the end of the trading session, buyers stepped in and the markets closed up, enough to make one's head snap! The tech-heavy NASDAQ Composite and NASDAQ 100 are most affected. Today's surprise one-day recovery doesn't mean we are in the clear, but looking at today's price charts suggests the markets, being were very oversold, ran out of sellers as buyers scooped up beaten down stocks.

 

Equities

The S&P 500, NASDAQ Composite and NASDAQ 100 indices gapped down today and closed up as buyers stepped in during the last hour of trading. The S&P 500 was the strongest market.

  • Equity Style Tech Score Ranking: Value continues leading Growth across Large, Mid and Small indices.

  • Sector Tech Score Ranking: Energy, Financials, Staples, Utilities, Materials, Real Estate, S&P 500, Health Care, Consumer Discretionary, Technology, Industrial, Communication Services

Fixed Income

The 30-year US Treasury yield Long Term downtrend appears reversing;10-year US Treasury yield Long Term trend is rising and hit overbought level 2.

The Yield Curve's flattening slowed slightly. The spread increased to 0.86 from 0.78 last week.

 

Currencies

Currencies vs. US Dollar: The downtrends of Australian Dollar, Euro, British Pound and Yen slowed.

US Dollar vs. basket of major currencies: Uptrend of US dollar slowed and fell to 95.99, down from recent high of 97.

Gold fell slightly and remains in long-term trading zone of 164 to 170.

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