Mirror, Mirror on the Wall...

...Who is the most overbought of them all? The markets right now are so correlated its "all one trade." If the U.S. Dollar is down, most everything else is up... and vice versa. So just for fun (and possible profit) lets find the asset class, or market, that is the most stretched. If one looks at Copper vs. the S&P and the CRB it looks pretty overbought! The Aussie Dollar is in much the same position against the CRB, SP 500, and the Euro. The Aussie is even high in its range against its brother commodity currency the Loonie. So now we have some areas to concentrate on when/if this Dollar trade reverses.