DC Lite #463

"Small-caps today are hitting the highest levels since February relative to Large-caps"

Author

Daily Chartbook
October 14, 2025

Welcome back to DC Lite: Daily Chartbook’s free, entry-level newsletter containing 5 of the day’s best charts & insights.

1. Oil supply vs. demand. The IEA "sees a huge oversupply in 2026, with two quarters when production exceeds demand by >4m b/d. Even if the agency is off, directionally it’s clear that the global oil market is heading toward a surplus that requires lower prices and contango."

2. Precious metals ETFs. "The five-day average for call volumes in GLD recently hit a record, while those for its silver peer are at their highest since 2021."

3. Silver RSI. "Silver's weekly RSI is at 86, one of the highest readings ever. Here's what silver did after similar spikes."

4. Equity futures positioning. "Russell is the main outlier when it comes to US equity positioning among asset managers and leveraged funds."

5. Small vs. Large. "Small-caps today are hitting the highest levels since February relative to Large-caps."

ICYMI

DC Lite #462

"We have CTAs modeled to sell equities in every scenario over the next week and month, mostly concentrated in the US"

www.dailychartbook.com/p/dc-lite-462

DC Lite #461

"There tend to be two distinct vol regimes: low vol before the market peak and high vol thereafter"

www.dailychartbook.com/p/dc-lite-461

DC Lite #460

"In the US, leadership is extending out from large-cap to small-cap stocks"

www.dailychartbook.com/p/dc-lite-460

DC Lite #459

"Retail has bought over +$100B of US stocks in the last month, the largest 1M buying on record"

www.dailychartbook.com/p/dc-lite-459

DC Lite #458

"The current advance is youthful if counted from April 2025 but mature if counted from Oct 2022"

www.dailychartbook.com/p/dc-lite-458

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