It should come as no surprise to market watchers that just about every equity market on the planet has gotten slaughtered in the recent weeks. Taking a look at these charts below gives should give you profound sense of just how bad things have gotten, that even a global bailout appears for now to have been anti-climactic.
At some point these indices will eventually get back to their mid- and upper ranges. The green zones in the charts are 2 standard deviations from the 50-day averages. Many of these market indices are now trading below two standard deviations, in what appears to be an oversold state. Markets usually do overdo their moves not only to the top, but these days, to the bottom.
Charts: Bespoke Investment Group.
