Euclid Investment Advisory Blog

Review & Analysis at Close January 23, 2023

Comments 

Equities

The Dow Jones Industrial Average, Europe, and China indices continue Bullish status; while the S&P 500, NASDAQ Composite, NASDAQ 100, Russell 2000, and US Treasury Note are all now on Bull alert. Weekly Market Breadth indicators: Bullish for NYSE, Bull alert for the NASDAQ Composite.

Sector Trends
Bullish - Materials, Energy, Financials, Industrials, and Gold Miners

Bull alert - Technology, Communication Services, Real Estate, Consumer Discretionary

Bear alert: Staples, Utilities, Health Care

Bearish: none

Fixed Income
The 10-year US Treasury Yield closed Monday at 3.525 down slightly from last week's 3.535%. The long-term uptrend is making a topping pattern.

The 2-year US Treasury Yield closed today at 4.21% up slightly from last week's 4.18%. The long-term uptrend is making a topping pattern. 

The 10-2 year Yield Curve remains inverted, the closing spread widened slightly to -0.69.

Currencies
The Australian Dollar, the Euro, the British Pound, and Yen all continue respective Bullish trends vs. US dollar. The US Dollar Index continues Bearish, closing at 101.92 down from last week's 102.14.

Gold's trend continues Bullish, and is overbought; Base Metals and Copper
continue Bullish; West Texas Light Crude turned Bull alert.

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