Top 5 Charts of the Day – June 30th, 2020
The short interest in the SPDR #ETF, tracking companies in the S&P 500 #Technology Index, was the lowest since the end of 2007 – Bloomberg pic.twitter.com/PikZIwR7M5
— Christophe Barraud (@C_Barraud) June 30, 2020
Great chart from @JC_OHara_, Chief Market Technician at MKM Partners, interviewed at Bloomberg:
"Currently, the Put/Call Ratio for the $NDX top 5 weighted names (40% of the index) is telling us that the market is extremely greedy – everybody is on the same side of the trade." pic.twitter.com/Dh8K0jeBqU
— Macro Charts (@MacroCharts) June 30, 2020
NASDAQ 100 has closed below its 20 day moving average (short term uptrend) for the first time in 58 days, the *longest streak* in 2 decades!
Historically this usually led to a pullback in tech stocks as the NASDAQ 100's rally ran out of steam. Stay alert & be careful pic.twitter.com/VJy2R83Q7w
— Troy Bombardia (@bullmarketsco) June 30, 2020
The market always wants more, but with the Fed balance sheet now actually shrinking slightly, the s-t tailwind for markets from Fed's initial balance sheet explosion might already be turning into headwind. Another reason to be a bit more cautious early Q3. https://t.co/HS5NDkzOYP pic.twitter.com/g8XsOifSaF
— Sebastian Dypbukt Källman (@sdypbuktkallman) June 30, 2020
#ECB Balance sheet tops €6tn for 1st time ever. Total assets rose by a whopping €600bn or 11% to €6.24tn on massive TLTRO intake by banks. Banks took €1.31tn in long-term loans from ECB w/an interest rate below ZERO. ECB balance sheet now equals to record 52% of Eurozone GDP. pic.twitter.com/7Q5XBLPqZv
— Holger Zschaepitz (@Schuldensuehner) June 30, 2020