As part of NFTRH’s Market Internals segment, we review the status of global markets vs. the S&P 500, just to see who’s shaping up nicely and who isn’t on a global scale.
Here we see the ratio of Europe to the US to be a relative buy. That doesn’t mean run out and buy Europe right now (I think it may settle lower, nominally) but it does mean to favor Europe as long as the ratio is above the moving averages and in an intermediate uptrend.
Nominal China 50 looks decent but in ratio to the US has not broken out, Toronto is a mess, Russia is fairly ugly and the EMs are constructive.
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