Bespoke's International Equity Snapshot (9/10/08)

Equity markets across the world have been reeling lately, and our trading range charts for indices of 22 countries highlight the carnage.  Countries to recently take big hits include Brazil, Canada, South Africa, and of course, Russia.  Any time the price moves below the green shading, it is trading more than 2 standard deviations below its 50-day moving average.  Below the green shading is considered extreme oversold territory, and prices don't typically stay that oversold for extended periods of time. 

The one positive chart might be India's Sensex index that has moved back above its 50-day moving average recently and formed a short-term uptrend.

click to enlarge

Comments

[jimsep:]

It would be very interesting if Bespoke would show us where this leaves us today. Please give us an update of P/E multiples relative to GNP growth rates of the various countries.

2008 Sep 11 11:57 AM