Quick Hits for the Week of 9/11/22
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Weekly Market Report
SPY and QQQ up over 1.47% and have closed above the 20 and 50 EMA lines.
The Fear index as represented by VIX was down about 10%. So, the market is back to "risk on" ?
GLD & SLV seem to have bounced off their lows with SLV up 4.15%
The dollar is at multi-decade highs but is showing some cracks, down 0.21% as the Euro traded up about .34% closing the week with a bullish engulfing candle.
Bitcoin regained 20K and now trades between the 20 and 50 EMA
Agriculture up over about 1.32% (DBA)
Oil lost almost 3% this week as showed by the decline in USO.
Friday 9/16 is the monthly expiration for September
Nice jump this week. Watch for the Ethereum merge on or around 9/15.
Gold and Silver
FXE (weekly candles)
FXE (Euro) up about .34% as the dollar declined by about .21%. Bullish Engulfing candle from this week could be, well.. bullish? Compare to the US Dollar below.
Weekly Market Heatmap
All Sectors were up this week with Consumer Discretionary and Materials leading the pack up over 5% each. No sectors ended red, however Energy preformed the worst only up .80%. Even iPhone 14 Pros could not lift Apple.
Yields & Rates
All 3 benchmark rates continue to rise and trade over 3% and gain more than 10 Bps each. The 2 year trades at the highest yield, 3.571%, higher than the 30 year and 10 year, remaining in an inverted state.
The VIX was down 10% for the week. The Fear & Greed Index moved from Fear to Neutral.
The US Dollar
The US Dollar retreated slightly, compare to the Euro above.
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