Start a 14-day no obligation free trial to get the full Bespoke research experience.
Below is a look at our trading range screen for 30 country ETFs heading into the open this Monday morning. For each country, the dot represents where its stock market is currently trading relative to its normal range, while the tail end represents where it was trading one week ago. The black vertical “N” line represents each ETF’s 50-day moving average, while the red and green zones represent overbought and oversold territory.
As you can see, equity markets across the globe are similarly positioned at the moment. Outside of a few countries like Indonesia, Taiwan, Thailand and Vietnam, nearly all of the ETFs shown are trading in the light red zone, which is overbought territory, but not excessively so. Most have upside momentum heading into the new trading week as well, as is evidenced by the dots trading to the right of the tails. This means prices have moved higher within their respective trading ranges over the last week.