Euclid Investment Advisory Blog

Review & Analysis at Close August 2, 2022

Comments

Equities:  US Markets have moved from late stage basing to Bull Alert status. Their prices have risen, bumping into their down trending long term-moving averages. The long-term moving average acts as a ceiling. If they break through, they need to keep going and not reverse due to selling pressure.

Markets and Tech and Consumer Discretionary sectors since mid July up a too much, too fast: expect pullback.

Bullish Market (price) alerts: on July 29, the Nasdaq Composite, Nasdaq 100 and the S&P 500 exceeded respective Bullish market alerts.
Systemic Risk assessment (breadth indicators): on July 29, the Nasdaq Composite, Nasdaq 100 and the S&P 500 all on Bull alert.

Fixed Income
The 10-year US Treasury Yield has fallen to 2.768%, down from June 13 peak of 3.483%. The 10-2 year Yield Curve remains inverted, spread widening to -0.31.

Currencies
Currencies vs. US Dollar: The Euro trying to find a bottom at 1.02; the bullish US Dollar settled at 106.10

 

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