Euclid Investment Advisory Blog

Review & Analysis at Close September 19, 2022


US Markets, Europe and China resumed their long-term downtrends. While there is chatter of the markets testing June lows, our measurements suggest selling intensity is lessening. The Volatility Index VIX closed at 25.76.

For the week, all sectors declined, from the least: Health Care -3.89%, Consumer Staples -3.95%; to the most: Technology -7.14%, Real Estate -9.04%.

Fixed Income
The 10 year US Treasury Yield closed at 3.490%, up from last week's 3.340%. Today it made a new high of 3.510%. The 2-year US Treasury gapped up at the open today and closed at 3.95% vs. 3.58% last week. The 2-year yield's rapid rise appears parabolic.

The 10 year-2 year Yield curve remains inverted; spread widened to -0.46, nearing its widest spread of -0.48 on August 8.

Currencies vs. US Dollar: The Australian Dollar, the British Pound, the Japanese Yen and the Euro remain in Bearish trends. The Euro closed at 1.002. The bullish US Dollar closed at 109.98 vs. 109.74 last week. Its remains in a long term uptrend.

We are watching the long term chart of Oil - West Texas Light Crude-
for signs that its downtrend may be ending.

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