Weekly Market Report — 5/15/22


Weekly Market Report — The S&P 500 ended the week down -2.41%, but was even lower at various times this past Wednesday and Thursday. Eventually, a rally on Thursday came, and a gap up on Friday, but it wasn’t enough to pull the index into green for the week. All sectors pulled back except for consumer staples.

We continue to trade 7% below the 200 day exponential moving average (red line above).

source: sector tracker

The Weekly Crypto Report — Trading around 30K, BTC is down over -17% the past week, and trades 40% below the 200 day exponential moving average (red line).

Most of the news this week came from the destabilization of the stablecoin UST, and it’s partner Terra/Luna. UST is supposed to be pegged to the US Dollar, but went from $1 in value to as low as $0.05. Terra/Luna went from $88 on 5/4 to $0.0002 at the time of this writing. Many exchanges have halted Terra/Luna from trading all together. The lesson here is to diversify and never put all your eggs in one basket.

I continue to accumulate crypto such as BTC and ETH on these dips with the Gemini Crypto rewards credit card.

Finviz Weekly Market Heatmap

Since this is a weekly heatmap, you won’t really see much of the green we saw towards the end of the of this week. We are still down on a weekly basis but there are some interesting opportunities out there for the long term investors in both growth and value stocks.

source: finviz

Interest Rate Watcher

All yields were down this week with the 10 year down a whopping 6.82%.The yield curve (distance between 10, 30, and 2 year), looks to be steepening. The 10 year is < 3% now, but for how long?


The VIX ended the week below a 30 reading. Is the worst over, or will there be another leg up this next week? Time will tell.

The Fear & Greed Index worsened from a reading of 16 one week ago to 12 this week.

The US Dollar

The US dollar gained almost 1% this week. Betting the dollar will mean-revert lower, I sold an out of the money call option on the Small Dollar Futures index, which I have outlined in our premium service.

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