Everyday we calculate the percent of stocks in every country within the MSCI World Index that are over their 50-day moving average. Generally, when 80% of stocks in a given country are over their 50-day moving average, this is a short-term overbought signal. Conversely, when only 20% of stocks in a given country are above the moving average, this is a short-term oversold signal.
As of today, only the following countries are in short-term overbought territory:
1) Belgium
2) France
3) Norway
4) United Kingdom
As of today, there are no countries that are short-term oversold, but Ireland is the closest with only 25% of stocks over their 50-day moving average.
Charts are available for download here: MSCI DM Countries Percent Over 50-Day Moving Average
