Top 5 Charts of the Day – July 20th 2020

Bloomberg Fear-Greed Indicator, using weekly data for the #Nasdaq, rose to new record level, surpassing a high from March 2000.
*These highs contrasted with a plunge in March that produced record weekly lows, surpassing those in December 2018 and May 2000. pic.twitter.com/OfPR4iM5ma

— Christophe Barraud (@C_Barraud) July 20, 2020

Equity Flows.

Updating this stunning chart from DB:

(1) Tech keeps getting non-stop record flows.

(2) Incredible how there's still *nearly zero* net buying in 8 key Sectors – a winner-take-all market driven by extreme investor preferences. pic.twitter.com/ntwyOFi6RW

— Macro Charts (@MacroCharts) July 20, 2020

The #Covid19 newsflow is deteriorating! Nice chart by Bank of America. pic.twitter.com/Cp86iUvscl

— jeroen blokland (@jsblokland) July 20, 2020

US equities are back to trading on a 1.5X market cap/GDP ratio, same number as Feb ‘20 peak levels & comfortably approaching the 100th percentile of its historical distribution over 70Y. As a reminder, valuations this extreme generally imply more downside for equities vs. bonds. pic.twitter.com/B2XXny3usJ

— Julien Bittel, CFA (@BittelJulien) July 20, 2020

While #recessions are supposed to be a period where #excesses are #reversed to provide better long-term #opportunities, the #Feds interventions have made the #corporate #debt problem even worse. (Total size) pic.twitter.com/CToZyAFhwl

— Lance Roberts (@LanceRoberts) July 20, 2020