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 Today’s Chart of the Day […]
Chart of the Day – Wednesday, June 10th, 2020
$NDX Daily Sentiment at 94, among the 8 most extreme days since 2009 (11 years). Three months ago, this was at 4. Few days ever reached this high level – odds are growing for a sharp correction into Q3, magnitude to be determined. pic.twitter.com/I98cqsFXmM — Macro Charts (@MacroCharts) June 10, 2020 Today’s Chart of the […]
Chart of the Day -Wednesday, March 18th, 2020
$SPX price behavior today – note wedge structure with potential throw-under flush/Bear trap at Dec 2018 low. Pretty clean but need follow-thru. Many key Stocks still holding up in the right core sectors. Just need to string together a few days of gains to change the tone around. pic.twitter.com/6Ve7XQrvgq — Macro Charts (@MacroCharts) March 18, […]
Chart of the Day – Tuesday, March 3rd, 2020
Last week the panic in Equities/VIX, now the final panic move in Rates. Disorderly and breaking all historic records (30yr Real < 0%, 2yr RSI 9). The 10yr chart projected to 0.883% and today's low was 0.9043. Maybe one more push but getting very very ripe. $TY_F $TLT pic.twitter.com/hZ2zKdSEZT — Macro Charts (@MacroCharts) March 3, […]
Evidence On Both Sides
If we were witnessing a real trial-by-jury (which, at the end of the day, is actually what the market is), I think it’d be safe to say that bears and bulls both have pretty solid evidence to put forth in their favor. Yes, there have been sub-industries that have done well and that we have […]
