Top 5 Charts of the Day – July 17th 2020
The ratio between the Nasdaq 100 Index and Russell 2000 Index is the highest since the last tech boom between December 1999 and June 2000, approaching a three-standard-deviation move from its mean quarterly average since 1985 – Bloomberg
*More charts: https://t.co/zE2TEnDQJb pic.twitter.com/GWaQaPn4VY— Christophe Barraud (@C_Barraud) July 17, 2020
The cost of insuring European investment-grade credit against default has tumbled from the heights of the coronavirus turmoil, even as economic risks and pandemic concerns hammer earnings expectations – Bloomberg
*More charts: https://t.co/9QDabc5ZQY pic.twitter.com/gkzkF5ov0J— Christophe Barraud (@C_Barraud) July 17, 2020
Closing the week with an important update:$NDX Daily Sentiment 50d has reached the Top 4% most overbought in history (20 years), and Top 1% since 2011.
Only 17 days in 9 years got this high:
Jan 26-Feb 1 2018
May 3-10 2019
Jan 20-27 2020Monitoring – will revisit this soon. pic.twitter.com/e0JseHf5fY
— Macro Charts (@MacroCharts) July 17, 2020
The above driven by this https://t.co/gxJiIsabpb
— Teddy Vallee (@TeddyVallee) July 17, 2020
Global utilities are starting to look oversold here in relative terms… pic.twitter.com/veFACB8Sv4
— Julien Bittel, CFA (@BittelJulien) July 17, 2020