Optimism on gold, silver, and miners was extremely high in late July and early August. Their punishing losses in recent days has caused a tumble in sentiment, which usually has meant that there is more room to go before the excesses are unwound.; Global stock market capitalization is higher than global GDP for one of the few times ever. Even just the valuation of U.S. stocks is nearing half of global output, a level seen only twice before in the past 60 years. The other two preceded many years of U.S. underperformance relative to the rest of the world's markets.Signup / Login to read this post
Optimism on gold, silver, and miners was extremely high in late July and early August. Their punishing losses in recent days has caused a tumble in sentiment, which usually has meant that there is more room to go before the excesses are unwound.
Global stock market capitalization is higher than global GDP for one of the few times ever. Even just the valuation of U.S. stocks is nearing half of global output, a level seen only twice before in the past 60 years. The other two preceded many years of U.S. underperformance relative to the rest of the world's markets.
The S&P 500 Total Return index has hit a new high, but the Equal Weight version of the index is still more than 7% below its own high.
Gold's worst day in 7+ years has made Gold's Optix to have its largest one day fall in history
Dow Jones Transportation Index has now gone up 10 consecutive days with such levels last seen only in 2013.
NASDAQ has fallen for 3 consecutive days, with the last time being 5 months ago. NASDAQ lost more than 2.5% over the past 3 days of consecutive drop.
The S&P 500's total return index, which includes dividends, has hit a new all-time high. The equal-weight version of the index, which puts all of the stocks on equal footing, is still more than 7% below its own high. This has only happened on four other days in 30 years, in late 1999 and early 2000.; The S&P 500 ETF, SPY, has stretched more than 11.5% above its Volume-Weighted Average Price (VWAP) over the past 250 sessions. This is a large deviation from its trend, one of the few times in 25 years it has rebounded from far below average to far above it.
The S&P 500's total return index, which includes dividends, has hit a new all-time high. The equal-weight version of the index, which puts all of the stocks on equal footing, is still more than 7% below its own high. This has only happened on four other days in 30 years, in late 1999 and early 2000.
For the first time in months, the S&P 500's average true range has dropped below 1%, following one of the most volatile periods in history.
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