Euclid Investment Advisory Blog

Review & Analysis at Close August 8, 2022

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Equities:  US Markets have moved from Bull alert to Bullish status. Their prices have risen through into their down trending long-term moving averages.

Since their recent June 16 lows, the Nasdaq Composite gained 18.9% or 260% annualized, the Nasdaq 100 gained 18.7% or 256% annualized, and the S&P 500 gained 13% or 148% annualized.

Generally, after sizeable gains and breakout from a Bear market rally, the markets may pull back as swing traders sell quick gains and trend traders begin buying.

Consumer Discretionary led gains at +22%, Tech gained +19.4%; Energy lagged at -5%.

Fixed Income
The 10-year US Treasury Yield has fallen to 2.765%, unchanged from last week, but down from June 13 peak of 3.483%; the 2-year US Treasury yield rose to 3.21%.

The 10-2 year Yield curve remains inverted, with the negative spread widening to -0.44.

Currencies
Currencies vs. US Dollar: The Euro is trying to find a bottom at 1.02; the bullish US Dollar settled at 106.32, both unchanged from last week.

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