Friday, August 1, 2014
How oversold is the US?
Bespoke just pointed out that consumer staples and industrials are both -3SD, which (unless we're seeing a worldwide liquidity collapse) is silliness.
So let's look at two charts:
Same for the 200-day.
Note that the NYSE index includes a bunch of bonds and stuff that aren't equities, so to get this low on NYSE the market must be puking anything that moves.
A lot of robots are going to get a spanking Monday morning when the humans come back in and see what they've done to the place.