Top 5 Charts of the Day – July 10th 2020
#China | With the nation’s benchmark CSI 300 Index trading at a five-year high, its fear/greed indicator — which measures the ratio of buying to selling strength — hit the second-highest level on record on Thursday – Bloomberg pic.twitter.com/ZQ8qpsG4TK
— Christophe Barraud (@C_Barraud) July 10, 2020
This rally is ALL tech.
While 76% of NASDAQ 100 members are above their 200 dma, less than 40% of S&P members are above their 200 dma. Tech is trying to lift up the index, other stocks aren't participating.
This has pushed the gap in breadth to an all-time high. Worrisome? pic.twitter.com/tqMtoc4boA
— SentimenTrader (@sentimentrader) July 10, 2020
The YTD performance gap (thru 7/9) between the market cap and equal weighted S&P 500 has never been wider. https://t.co/UJabh8NGC9 pic.twitter.com/e86yK18NPy
— Bespoke (@bespokeinvest) July 10, 2020
My old boss used to say, “if equities won’t fall on bad news, think what will happen when good news comes along!” The same goes for the bond market which has ignored recent strong data and is now primed for yields to plunge on weaker than expected news. Negative 10y yields await. https://t.co/75MP4CgONB pic.twitter.com/RX3BZpk1TP
— Albert Edwards (@albertedwards99) July 10, 2020
The FANG+ index began at a level of 1,000 on 9/19/14 when the S&P 500 was at 2,000 (1/2 ratio). The ratio of FANG/S&P is now up to 1.5. FANG+ up 82% since March lows. pic.twitter.com/ojeDJXpmLO
— Bespoke (@bespokeinvest) July 10, 2020