Week 35 Stock Market Observations

Global Markets

Reviewing global stock markets that are traded in the US markets and have average volume of at least 100k, only 3 countries have positive returns for 2022 so far: Chile, Turkey and Brazil.

Chile ECH is up +27.68%

Turkey TUR is up +14.51%

Brazil EWZ is up +12.83%

Looking at the trending, Chile is short-term bullish and could be turning long-term bullish as well. Not sure what the trigger was for the jump on Friday by +7%. The RSI is currently at 67 with a recent high of 72.

Germany EWG is down -35%

Netherlands EWN is down -34%

Italy EWI is down -31%

European Monetary Union EZU is down -30%

South Korea EWY is down -28%

Sectors

Six sectors have positive returns in 2022

Oil & Gas XOP is up +41.80%

Energy XLE is up +39.74%

Natural Resources IGE is up +20.98%

Utilities XLU is up +5.26%

Metals & Mining XME is up +4.66%

Solar TAN is up +2.99%

Big Tech

No point in reviewing all of 2022, so looking only at August performance:

Only META was positive in August.

Zoom, Nvidia, Salesforce, Intel, AMD and Block (Square) all had double digit losses.

Major Markets

Here are August 2022 returns for the major markets.