Current Market Extremes – Dec 15, 2020

The purpose of this list is to be cognisant in observing the extremes in the pendulums arc.

My list of extremes on a ‘weekly basis’ as of Tuesday December 15, 2020 with recent prices at time of writing are;

* my ‘weekly’ time frame tends to cover b/w 3-8 months.

Overbought Equity Indices:
KOSPI – 2,762.3
Nikkei – 26,687
Russell 2000 – 1,913.8
Nasdaq 100 – 12,462
Dow Jones Transport Index – 12,671

Overbought Currencies:
Ethereum – 583.5
Bitcoin – 19,173
CNH/USD (Chinese Renimbi)- 6.533
Korean Won – 1093.30

Overbought Commodities:
Iron Ore – 149.00
Tin – 19,700
Copper – 3.52
Soybeans – 11.54

Overbought Govn’t Bonds:
Italy 10 year yields – 0.53%
Spanish 10 year yields – (0.005%)
Portuguese 10 year yields – (0.05%)

Oversold Govn’t Bonds:
Australian 2 year yields – 0.10%

Nearly and Not Quite, Overbought:
Corn – 4.22
AUD/USD – 0.7517
USD Dollar Index (DXY) – 90.71
Brazil’s Bovespa Equity Index – 11,461
Chinese 10 year govn’t bond yields – 3.3%

……………..
While on a Daily basis (a time frame between 2-10 weeks)

Overbought:
Copper, Tin & Iron Ore
and vs. the USD;
AUD
NZD
CAD
DKK
KRW

Nearly but not quite, Overbought:
Brent Crude
Heating Oil
Lumber (again)
Nasdaq 100 (it was so, 3 days ago)

Oversold:
USD

December 15, 2020
by Rob Zdravevski
rob@karriasset.com.au