Euclid Investment Advisory Blog

Review & Analysis at Close November 21, 2022

Comments

Only the Russell 2000 rose Monday. For the week, 10yr Treasury note and China
rose while R 2000, Nasdaq Comp and Nasdaq 100 fell, S&P 500, Europe flat.

 

 

Equities

The trends of the Russell 2000, S&P 500, and the European markets continue on Bull Alert; China, Nasdaq Comp. and Nasdaq 100 continue to be Bearish. Weekly Market Breadth indicators improved having moved off the bottoms of their respective ranges with Nasdaq 100 and S&P 500 showing the greatest improvement.

For the last five days, Consumer Staples + 3.6%, Utilities +2.8%, Real Estate +1.6%, with laggards: Consumer Discretionary -2.7%, Energy -2.91%, Gold Miners -3.34%.

Bonds
The10 year US Treasury Yield closed today at 3.825% well off its recent peak of 4.333%. The rate rise showing a loss of upward momentum continues with trends of 10-year Treasury note showing bearish indications.

The 2-year US Treasury Yield closed today at 4.48%, down from a recent peak of 4.71%. The 2-year yields rise is slowing.

The 10-2-year Yield Curve remains inverted, with its spread at -0.65, up slightly from last week's low of -0.69.


Currencies
Currencies vs. US Dollar: The Australian Dollar, the British Pound, the Euro, and the Yen after strengthening recently, continue their Bearish trends vs. US dollar.

The bullish US Dollar rose to 107.73, up from last week's low 105.16. Its uptrend appears weakening.

Gold's trend is Bull alert as is Base Metals and Copper. West Texas Light Crude resumed Bearish downtrend.


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