Top 5 Charts of the Day – September 27th 2020

27 September, 2020

Global stocks have lost $2.4tn in mkt cap this week, almost equal to GDP of France, as investors position ahead of elections instead of ahead of vaccine, & grapple w/mkt concentration risk that built up over summer & on Dollar strength, meaning mkt value outside US is devalued. pic.twitter.com/UD6HYLTfkz
— Holger Zschaepitz (@Schuldensuehner) September 27, 2020

3. The "HY Bond McClellan Oscillator" is also looking very oversold – but as he points out, you ideally want to see a bullish divergence establish for a more robust market bottom.
h/t @McClellanOsc $JNK $HYG $SPX $SPY pic.twitter.com/IuaqVn4yie
— Callum Thomas (@Callum_Thomas) September 26, 2020

6. Speculative futures positioning taken a lurch to the net-short side the last couple weeks.
(aggregated across all index futures — non-commercial, and net positioning standardized against OI)@topdowncharts $SPX $SPY pic.twitter.com/yjjAHYIOlP
— Callum Thomas (@Callum_Thomas) September 26, 2020

ICYMI! A history of market manias in one chart! pic.twitter.com/WUan2r0UxI
— jeroen blokland (@jsblokland) September 27, 2020

Something snapped in March.
Before March breakevens correlated with oil;
After March breakevens correlate with stocks pic.twitter.com/fHGZrHfMu4
— zerohedge (@zerohedge) September 26, 2020