rsi. >> in general. i love referencing the rsi i also think rsis can have a heavier weight than they deserve. conocophillips has been selling off assets extstrategically over the last five years. i stay trade it. ding >> there you go. karen is up next hess, trade it or fade it? >> i'm going to fade it, which isn't really -- it isn't in any way a knock on hess. am i what? >> are you a giants fan? it's a reference to the jets. >> yeah, yeah, it's hard to be a giants fan anyway, so -- you know, i'd just be chasing it to the top right here i understand the underpinnings of why we have an oil rally but it's not crazy for some of those underpinnings to go away and this will go with it balance sheet is in great shape but i would fade it. >> so would you basically fade every single name we are talking about? >> yes it doesn't mean i'd short them >> you're going to be fading. >> i am. yeah >> it's important to know. >> yes. >> again, i disagree because i think what's happened in especially the e and p -- >> you c

thing about rsi is you can go to overbought pretty quickly and i don't think analysts will make the call based upon that. the part of the business model to me, is aws, and it's been the growth engine and that's the place that they're competing against and one of the biggest names out there in tech and it will have to be commoditized and there are a lot of people looking to play in that space. if anything, that's where the multiple gets compressed from whatever levels we're at >> before we move on, i would like to play a game of would you rather >> would you rather and the choice is between the $2 trillion market cap company. apple or amazon? >> guy adami >> is there a timeframe for this game >> and the science was overbought and if it goes sideways, it gets more manageable, and by the way, i like that you brought that up with joe kernen at 6:00 a.m. in the morning. we got the whole clock going >> no, no. and we did pops and drops. and we're not done for a good, long time. >> i'm a little jealous. and i was playing games with other people. >> and it was the amazing run that's about t

to my left is the rsi discovery which was built in 1901 and a celebration of its history as and a celebrationits future. it hopes it will become not only a tourist hotspot but a hub for the industries. v&a dundee's concrete—clad form is reminiscent of a jagged, overhanging cliff face or the prow of a ship about to sail up the tay estuary. it is a striking new addition to the city's waterfront — a low, inverted pyramid with triangular features. it was created as a whole, as in the building. it is the first building in the uk by the respected japanese architect kengo kuma. i got the inspiration from a cliff from scotland. that cliff is a kind of composition between water and land. the far side is a little bit twisted and inclined and as that gesture integrates nature and the city. the building's tone changes when you enter. the cold, grey exterior gives way to a warm, wood—panelled atrium from which you access the two main galleries on the first floor. one will present temporary exhibitions — the other history of scottish design. we are in the heart of the museum, the part that looks at scotlan

nonetheless, accompanied by new highs on rsi, and as well the number of stocks trading above the 208 average made a new post crash high along with the new highs. from a technical perspective -- vonnie: a ship from equity etf to bond etf was notable -- shift out broadly, a of equities into bonds. with active investment and et f. active has suffered in the hand of passive etf's. months, ae summer little bit of risk hesitation. we see that without close of some of the tech companies and tech focused funds. inflows into the -- over the longer term, demographics support some degree of fixed income ownership. that is a lot of what is driving this persistent bid for bond funds even though there is a tremendous economic environment powering stock prices and earnings to new highs. julie: this is something we talked about, the ranges we have seen for various asset classes, it shows the dollar and the 10 year at support levels. what level is problematic for equities? ,% at one point caused issues it does not seem to be much of a problem right now. >> it is more of a correlation issue. one thing

the rsi above 70. when it heads down sometimes it could signal more of a pullback. that was certainly true back in january when the market was truly overbroad. overbought. the tech heavy nasdaq flipping between gains and losses. overbought. apple down about 1.8% on the day. we soon as big decline on the day as president trump is encouraging apple to manufacture its products in the u.s. some are saying that could raise the price of the iphone by 20%. if weakness continues here it could suggest that though small gains will evaporate. up once again.er wells fargo is ola seamus -- is bullish on the shares. tesla up 4.4% after elon musk named a new automotive president. he fixed the model three issue. up 4.9 percent. they bought a competitor for $2.1 billion. finally foot locker up 5%. vonnie: the british pound suddenly rallied a little while ago. stronger. .75% following comments from the chief brexit negotiator, michel finally foot locker up 5%. barnier. stickee that if we really , we are able to reach an agreement on the first stage of this negotiation. in six or eigh

a lot of people think when the rsi becomes above 70, they consider that to be negative.n he gets to about 80, happening a number of times in the last 18 months or so, most of the time when it happens it has been a short-term crotch in and is option of the long-term trend. suggests to mern the momentum long-term will be higher. abigail: overall you think the u.s. could join the rest of the world in some sort of bearish action but health care is a goodbye? david: a good spot to be. abigail: thank you david keller. scarlet, back to you. caroline: not scarlet, but i will take it. the goldman call is adding to the concern out there that we could see some start of -- we could see some start of correction. joe: the health care stocks -- romaine: the health care sox has been one of the havens. joe: i also feel because it is the 10th anniversary of lehman everyone is in the mood. stocks are a straight line of ups since then. caroline: glass half-full. we needed it. take it back after the decade in the rearview mirror. coming up, we see where the high valuation for cannabis compan

the buyers defending it but at the same time the fact that it's happening so much tel us buyers -- rsi are starting to move to the downside. be interesting to see how this does play out for the tech space. david: we won't really have a read on the extent of damage in the carolinas until flooding goes down. how emergency services coping? we will talk with the deputy director responsible for preparedness. this is bloomberg. ♪ david: this is balance of power. we turn to mark crumpton for first word news. mark: florence is dumping rain on north carolina. forecasters expect the store to pick up speed and had for the northeast. the national weather service says nearly 34 inches of rain fell from thursday through sunday in swansboro on the north carolina coast and rivers are still rising. duke energy's north carolina president david fountain spoke with bloomberg about restoring power to homes and businesses in the aftermath of the storm. we prioritize critical customers. hospitals, emergency personnel. also, business is an important part of that segment. we work closely with our large account

the bottom panel is rsi. a gauge of momentum in the emerging markets act index. as the yellow line shows, the index is coming down, but the momentum of the selling is abating. the type of divergence that a lot of technicians look at as the possible sign of a bottom. people believe the e.m. selloff has overshot the fundamentals. joe: is the big question this year when something other than the s&p 500 is going to start working? michael: absolutely. this decoupling between the u.s. and the rest of the world's front and center of a lot of people's minds. it is hard to bet against the u.s. with the earnings pipeline that we have. a lot of people, especially in e.m., think bottom has to come sooner or later. some people are trying to catch the falling knife. are a lot of technical and other indicators suggesting we could be getting closer to it. scarlet: what is your take on e.m., jim? jim: there's a lot of attention on when u.s. would quit working. it did start last year. last year, the markets did better than the emerging. or april ofarch this year, emerging markets

we are seeing rsi in range. the japanese yen holding steady at 111.88.ing to hold off the risk sentiment. bringing up the terminal chart to show you why some are saying there is bargain-hunting involved. take a look at the earnings estimate from analysts. it continues to rise up despite the share price falls we have seen in the topix. geopolitics, you should probably wait until after the midterms before you send looking for bargains. one to watch as we end the morning session in tokyo. plenty more to come on bloomberg markets: asia. this is bloomberg. ♪ i'm all about my bed. this mattress is dangerously comfortable. when i get in i literally say, ahh. meet the leesa mattress. a better place to sleep. this bed hugs my body. i'm now a morning person. the leesa mattress is designed to provide strong support, relieve pressure and optimize airflow to keep you cool. hello bed of my dreams. order online. we'll build it, box it and ship it to your door for you to enjoy. sleep on it to up to 100 nights and love it or you get a full refund. returns are free and ea

side,s actually the short the 14 day rsi -- weaker companies get day bid -- get a bid today.three month target price change. we've is an factors are falling so far -- revision factors falling so far today. guy: ftw on the bloomberg -- factors to watach. .- factors to watch one of the stories we just want you is the fact that mark carney is going to be questioned about whether or not he will stick around for another year. will the united kingdom benefit? neil: i think the u.k. may benefit from the stability. it is a shame as we face brexit we don't have someone from the u.k. who can give us stability and maybe navigate some of the political issues. guy: is he making policy mistakes? l: the governor panicked ahead of brexit and is trying to recover his reputation, which is what the u.k. does not need at this moment given the uncertainty around brexit. he is playing on both sides of the brexit debate. guy: hold that thought. i want to talk a little bit about what is happening with the banking sector. ing has agreed to pay a fine of 675 million euros to settle an investigation in

rsi,is looking at 14 day which shows would make not be ready to bounce back.s at a level of about 50. it typically needs to hit the level of 30 before it is considered oversold. we might need to see some more pain before traders are willing to step in and by the dip. i want to show you another across asset market story just oil. it's just under $70 a barrel but it might start to get more volatile with its price because here i have charted 20 day volatility which is just hit its lowest level since january. when we have seen it hinges level in the past it has reverted and volatility by its nature is reverting. considering the hurricane and the volatility picture right here, we might see more swings in the price of oil. nejra: let's get the bloomberg first word news with debra mao in hong kong. hurricane forex is expanding on its relentless advance toward north carolina. oil prices have jumped in the face of what might be the most powerful hurricane to hit the state in 64 years. at least a million people have been warned to leave the coast and local businesses ha

the rsi, the relative strength index, which is down.t's got more miles to go, according to the technicals. if that is the perspective, is it the dollar that has to ultimately faded's movement before you step into em? kallum: i think the dollar has the trackback a little bit, weaken, which would be the expression of markets worrying less about trade wars, among other things before emc relief. but look at the fundamentals. four emerging markets that mainly export oriented. em's should be having a pretty good time of it. the u.s. is doing well, europe is not doing badly. things can improve in the second half of the year. all else being equal, apart from this trade war nonce is we have to worry about, it should be a relatively good environment for em's. the dollar then starts to weaken and you start to see that stronger demand playing out and emerging markets benefiting. nejra: kallum stays with us. next, we discussed the latest on brexit after the pound jumped. optimism about getting a deal. manus: 10 years on from the collapse of lehman b