Quick Hits For the Week of 8/21/22
Was that a bear market rally, or a bull market pullback?
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"How many millionaires do you know who have become wealthy by investing in savings accounts? I rest my case." — Robert G. Allen
Weekly Market Report
SPY was flat for this week, bounced off the 200 SMA (red - 431.04) and was not able to stay above the 61.8% (423.91) Fibonacci level. Questions for next week are if it will hold the mid June/July range over 417, or break down. If it breaks down, will the 50% retracement at 412.12 hold?
BTC dropped around 10% this week, and has lost the 20 and 50 EMAs (blue and green lines). Now they could act as a resistance for a reversal. If that doesn't happen will BTC hold 20K?
Weekly Market Heatmap
Yields & Rates
The 2 year (white) is still offering the highest yield at over 3.2%, while the 30 year (green) and the 10 year (blue) offer less -- an inverted state at ~20 year records. All rates remained in an upward trend this week, but their spreads are closing in.
The VIX was up 1.28% this week, indicating more fear and volatility in the S&P 500. The Fear & Greed Index moved from 55 to 51, back to neutral.
The US Dollar
The US Dollar gapped up on Friday, up almost 2.5% for the week.
4 Tips to Manage a Comic or Card Collection
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