Weekly Market Report
- The Fed told us what we expected to hear (+75 Bps) and SPY declined -4.21%.
- The Fear index as represented by VIX was up about 8.88% to levels not seen since June of this year. On Friday we briefly exceeded 32.
- The 2 year rate is now trading over 4% while the 30 year trades at 3.6% (the inversion continues).
- The Fear and Greed index moved to “Extreme Fear”.
- Bitcoin could not hold 19K.
- Agriculture, as represented by the DBA ETF was only down -0.73%.
- Gold lost -1.07% this week. Not the “hedge” we all thought, but also not down as much as the S&P either.
- The Dollar went up +2.78%.
- Oil declined about -15%
“Success is the sum of small efforts repeated day in and day out.”
– Robert Collier
Still holding the 200 SMA at 357.76
Weekly Market Heatmap
Like last week, Health Care was the least beat up, only down -0.92%, while Energy & Materials were the worst hit.
Yields & Rates
Note that the 2 year is now over 4%.
Extreme Fear goes with EXTREME CLOSE-UP!
The US Dollar
Look at that weekly dollar bar.
Source: Earnings Whispers
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Health – Coffee & Tea Key to Fighting Diabetes
Rejoice all you coffee and tea drinkers, more research points to the health benefits of these daily habits enjoyed by billions!
Drinking at least four cups of tea a day was linked to a 17% lower risk of developing diabetes over an average span of 10 years, according to research presented at the the annual meeting of the European Association for the Study of Diabetes in Stockholm.
Just remember that if the beverage is loaded up with creamers and sugars, the health benefits are severely impaired. So go light on the extras and drink in the health benefits.
*not healthcare advice to anyone, see your medical professional
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