Just a little big picture perspective for you here. This is the latest view of some of the biggest global asset classes and how oversold or overbought they are. I used the percentage deviation from the 200 day moving average as a simple point of reference.
The notable stand-outs are natural gas vs brent crude and the stunning performance of the Nikkei Index versus all other equity markets. If you thought the S&P seemed overbought….
As we all know by now, the commodity complex has been slammed in recent days and precious metals have taken the worst beating. Silver is down an incredibly -24% from its 200 day moving average while gold is off -17%. The beating in Brent Crude has been nearly as bad at -12%.
Chart via Orcam Investment Research:
Latest posts by Cullen Roche (see all)
- 3 Big Flaws in “The Market” Portfolio - 08/25/2016
- Samsung is Winning the Productivity and Security Battle - 08/25/2016
- The Alpha Paradox - 08/23/2016
Did you have a comment or question about this post, finance, economics or your love life? Feel free to use the discussion forum here to continue the discussion.*
*We take no responsibility for bad relationship advice.