Quick Hits for the Week of 9/4/22

GLD & SLV Bounce? 2002 Dollar Highs. 10 year up, SPY and BTC down…

Weekly Market Report

With SPY down -2.47% in the past week, below is a weekly view of SPY going back to 2017. We are still above the 200 day EMA (red line, 367) which is around the mid-June lows. GLD Seems to have bounced off the lows going back to June of 2020, and the dollar is at highs not seen since June of 2002!

Bitcoin

BTC was down around -2% for the past 5 days and could not hold 20K. The weekly chart below goes back to 2017 and shows we are below the 200 EMA (red line) and have been trading below it since early June of this year.

A Gold Bounce?

Silver

According to Callum Thomas from Topdown Charts, his chart of the week shows that silver is at an interesting technical support level, and bulls have finally capitulated.

Weekly Market Heatmap

source: finviz

All Sectors were down this week with technology being the worst hit, down around -5%. Utilities was the best of pack, only down -1.44% for the week. 

Yields & Rates

source: koyfin
All 3 benchmark rates continue to rise and trade over 3%. The 10 year rose 15.8 Bps this week.


The VIX

The VIX was up 15% for the week. The Fear & Greed Index moved from 55 to 41.

The US Dollar

 The US Dollar gained 1.80% for the week, at 20 year highs.


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