A chart depiction of the washout in EM stocks: They will be interesting soon, but not there yet
![](https://assets.livewiremarkets.com/rails/active_storage/representations/proxy/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaHBDUT09IiwiZXhwIjpudWxsLCJwdXIiOiJibG9iX2lkIn19--2067432a2fa7f02ff27fb1028d77ab5518bd5d09/eyJfcmFpbHMiOnsibWVzc2FnZSI6IkJBaDdCem9MWm05eWJXRjBTU0lJY0c1bkJqb0dSVlE2RTNKbGMybDZaVjkwYjE5bWFXeHNXd2RwQWNocEFjZz0iLCJleHAiOm51bGwsInB1ciI6InZhcmlhdGlvbiJ9fQ==--c306068f01ab83c3650795f1865f4e6da1f93433/LWM-icon-equities.png)
Livewire
With the MSCI Emerging Markets Index down about 17% from its high at the end of April we thought we’d provide a visual depiction of the sell-off so readers can glean a better understanding of the action underneath the surface of the markets. The percent of stocks above their own 200-day moving average is approaching what we’d consider to be an oversold level, but is not quite at the lows seen in the 2011 sell-off or during the “taper tantrum”. Our blunt momentum indicator that measures the percent of stocks whose 50-day moving average is above their 200-day moving average has turned lower, but again would need to take another leg down for this to become a really interesting oversold low (click the circle below on the right to view this chart).
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Livewire News brings you a wide range of financial insights with a focus on Global Macro, Fixed Income, Currencies and Commodities.
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No areas of expertise