Top 5 Charts of the Day – August 12th 2020

12 August, 2020

Valuation in relation to the economy and in relation to the absurd monetary policy pursued… Quite a difference. Crazy… pic.twitter.com/dmb3ethKjZ
— Mikael Sarwe (@MikaelSarwe) August 11, 2020

#DailyDataPoint: Adding up China’s phase-1 trade deal shortfall in U.S. imports (via @MaevaDebarge & @tomorlik) https://t.co/oLzZEGYthZ pic.twitter.com/ZFc3DrhiPc
— Bloomberg Economics (@economics) August 12, 2020

#DAX Index > 13,000
Forward PE: 20
Realized PE: 40 pic.twitter.com/tOVC7SnTeK
— jeroen blokland (@jsblokland) August 12, 2020

Best chart I've seen yet showing the staggering jump in retail trading. There were 320 million trades made in June and about 1.3 billion trades made in 1H (about 3x normal) on the 5 major online brokerages thx to a multitude of catalysts (free, lockdown, Fed, etc).. H/t @mbarna6 pic.twitter.com/RmVHljQH4q
— Eric Balchunas (@EricBalchunas) August 11, 2020

The most critical Equity chart I'm watching here:$NDX Volatility Index $VXN has formed a *massive* 3-month base.
Even more important: yesterday MAY have been the initial launch out of the pattern.
If Tech Volatility confirms a break higher, be ready for widespread panic. pic.twitter.com/7Dznuukevk
— Macro Charts (@MacroCharts) August 12, 2020