David Fuller's view Note: to see the names and numbers clearly, I clicked on the graph shown on the link above three times.

I would not read too much into this beyond the short-term signals. For instance, Australia's "Overbought" reading indicates that it is due for a reaction and consolidation but it is likely to be a main beneficiary of China's recovery, in my opinion.

At the opposite extreme, gold's oversold reading suggests that a technical rally is due before long. However, it will have to move above $1700 to squeeze shorts and convince people that demand is regaining the upper hand.