Top 5 Charts of the Day – August 6th 2020

#HedgeFunds Embrace Relentless Stock Rally as Clients Grow Wary – Bloomberg
*Link: https://t.co/GhzOa6WM4W pic.twitter.com/m9imEcj9Hf

— Christophe Barraud (@C_Barraud) August 6, 2020

#China | The central government needs to raise a net 2.5 trillion yuan ($360 billion) between August and December through bond sales to achieve its annual fiscal deficit target, a record figure for any similar period, according to data compiled by Bloomberg. pic.twitter.com/YgSxR08jum

— Christophe Barraud (@C_Barraud) August 6, 2020

Europe confirms the worst earnings season in history. pic.twitter.com/KEUNYJ6CLv

— Daniel Lacalle (@dlacalle_IA) August 6, 2020

The CBOE Skew index has been elevated for several weeks.

Traders perceive an increase in tail risk, increasing the relative demand for low strike puts.

Sometimes this led to big corrections – the key is to watch for catalysts (because some put buyers tend to "know" in advance). pic.twitter.com/PunqqfiVzC

— Macro Charts (@MacroCharts) August 6, 2020

Traders have caught gold fever:

GLD premium to NAV's 100 day average is at its *3rd highest level ever*

SLV premium to NAV's 100 day average is at its *2nd highest level ever*

Historical extremes led to sharp gold/silver pullbacks, followed by ramp higher

h/t @themarketear pic.twitter.com/jJUHl2zFBd

— SentimenTrader (@sentimentrader) August 6, 2020