Top 5 Charts of the Day – August 25th 2020

#Apple | Monday’s close was 17% above the average price estimate, generally for the next 12 months, according to data compiled by Bloomberg.
*The gap was the widest in Apple’s favor since the average was first produced in 2011. pic.twitter.com/5GJll6xaWB

— Christophe Barraud (@C_Barraud) August 25, 2020

$AAPL speculative options activity is spiking into the stratosphere.

Will be fascinating to see how far this mania goes – maybe new records? I'll revisit this soon.

Remember: the blow-offs in '07/'12 led to collapses of 45-60% next 12M. Enjoy the ride, but don't forget gravity. pic.twitter.com/qZAYX317pS

— Macro Charts (@MacroCharts) August 25, 2020

US equities are now trading 12.5% above their 200DMA, the highest percentage since Jan ‘18. The MSCI US Index has only been 10% above the 200DMA 5X in the last 9Y (ex. today), making this a rather rare occurrence. Previous % deviations >10% resulted in a minimum correction of 5%. pic.twitter.com/w3CR9p9o8t

— Julien Bittel, CFA (@BittelJulien) August 25, 2020

Talk about a pair of alligator jaws! US Conf. Board Consumer Confidence: 84.8 vs. 93 exp. in Aug. Makes for a new cycle low YoY, down 49.4pts. A record disconnect w/ current equity valuations (market cap/GDP ratio). pic.twitter.com/7NX8ssWkLn

— Julien Bittel, CFA (@BittelJulien) August 25, 2020

Only 59% of S&P 500 members are trading >200d moving averages. That’s an unusually low number w/S&P 500 at a record high, BBG's Xie writes. The only comparable period was in late 1999 and early 2000, before the burst of the Internet bubble. pic.twitter.com/1EWo544lGh

— Holger Zschaepitz (@Schuldensuehner) August 24, 2020