Top 5 Charts of the Day – July 6th 2020
The ratio between the #SPX Consumer discretionary gauge and the Consumer Staples Index rose to a record on June 23 and again on Wednesday, according to data compiled by Bloomberg. #Amazon is the discretionary index’s most heavily weighted company, at 43%. pic.twitter.com/YulE1BcIMe
— Christophe Barraud (@C_Barraud) July 6, 2020
A front-page editorial in the CSJ on Monday said that #China’s multiple reforms and increased foreign capital have paved the way for a healthy bull market.
*Link (Chinese): https://t.co/doZvGyEEEP
*Chart from Bloomberg ⬇ pic.twitter.com/tYFZWHh1JU— Christophe Barraud (@C_Barraud) July 6, 2020
China $SHCOMP daily RSI hit 88 today, one of the highest of all time.
In the 30 years of this index, extreme momentum was very rare – associated with the early stages of massive rallies.
Looks like the summer could get hot. pic.twitter.com/TL7zvEVTdA
— Macro Charts (@MacroCharts) July 6, 2020
'Overvaluation of the U.S. high-yield bond market, based on the factors that ordinarily drive its risk premium, is literally off the chart these days.' https://t.co/ggE9dmAKfU pic.twitter.com/rj3bbZYTcF
— Jesse Felder (@jessefelder) July 6, 2020
Copper bounce is driven more by supply tightness than demand improvement.
As I mentioned here: https://t.co/ukM4gLPi7O pic.twitter.com/ECxeIgoDOh
— Daniel Lacalle (@dlacalle_IA) July 6, 2020