Top 5 Charts of the Day – October 30th 2020

'The 10 largest stock markets represent 78.8% of the global stock market value. The top two—the NYSE and Nasdaq—capture 46%.' https://t.co/GR9lJJnnXB by @VisualCap pic.twitter.com/QUP4Lby2lU

— Jesse Felder (@jessefelder) October 30, 2020

Closing the week with an update of my favorite "Smart Money" indicator:

Corporate Insiders sold the Top perfectly, one of their biggest Sells ever.

More important: they haven't stopped selling – there's room to push much lower if they want. This isn't 2016.

Stay tuned… HAGW! pic.twitter.com/fvzyenkKLE

— Macro Charts (@MacroCharts) October 30, 2020

Fed trigger biggest buying program of the day. pic.twitter.com/zdq1TyP4Hp

— zerohedge (@zerohedge) October 30, 2020

ECB Survey of Professional Forecasters: long-term expectations have stabilised both for inflation and GDP, although I suspect that real expectations are more like ¯_(ツ)_/¯. pic.twitter.com/J925pV6RkS

— Frederik Ducrozet (@fwred) October 30, 2020

More evidence underpinning a deterioration in EUR/USD. The spread in US vs. EZ consumer confidence ticked higher in Oct amid a growing number of Covid cases across Europe. A bout of further rel. strength would be a headwind. Divergences tend to close via EUR/USD closing the gap. pic.twitter.com/j5wJDfuNKV

— Julien Bittel, CFA (@BittelJulien) October 30, 2020