Euclid Investment Advisory Blog

Review & Analysis at Close February 28, 2022

Comments

Equities

While still in long-term down trends the S&P 500, NASDAQ Composite, NASDAQ 100 and importantly, the Russell 2000 small cap have come to life.

Europe, China and Emerging markets remain in downtrend and do not show the same signs of Spring as do US Equities.

  • Equity Style Tech Score Ranking: Coming off oversold conditions and having low ranking scores, Growth stocks (small, mid-, and large cap) growth stocks had two to three times the percent gains that their highly ranked Value counterparts since February 24.

  • Sector Tech Score Ranking: Energy, Consumer Discretionary, Industrial, Utilities, Technology, Real Estate, Communication Services, Health Care, Materials,
    Consumer Staples, Financial.

Fixed Income
The 30-year US Treasury Yield pulled back while in its long-term uptrend; 10-year US Treasury Yield pulled back after hitting resistance at 2.015, while in a long-term uptrend.

The 2-year US Treasury Yield pulled back sharply to 1.31 from its high of 1.61 February 10th.

The Yield Curve's flattening slowed slightly. The spread decreased to 0.41 from 0.42 last week.

Currencies
Currencies vs. US Dollar: The Australian Dollar, Euro, British Pound and Yen remain in long-term downtrends.

US Dollar vs. basket of major currencies: The uptrend of the US dollar increased to 97.41

Gold rose sharply to 179.73 after breaking out of its several month trading range 164 to 170.1

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