Buy on the sound of cannons

#Israel‘s Tel Aviv 25 equity index has risen 36% since warring began last October.

The circle in the chart below highlights that oversold moment.

The old investment adage of “Buy to the sound of cannons and Sell to the sound of trumpets” comes to mind.

In this weeks edition of Macro Extremes, the Tel Aviv 25 features in the overbought territory.

Hint: could a truce be close?

I also noted that it is registering all-time highs.

Adding to what may seem odd, the price of Crude #Oil has fallen 17% since the start of this particular conflict.

October 22, 2024

by Rob Zdravevski

rob@karriasset.com.au

#contrarian