globe

Global Stock Market Comparisons

Several weeks ago NFTRH added a Global Market Internals segment to go with its US Market Internals views. The latter is actually more comprehensive as it not only compares US sectors against each other to gauge the most prospective sectors in any given period, but it also weighs interest rate dynamics relative to sectors and indicators on breadth, divergence, etc.

The Global Market Internals segment is more a comparison of global markets vs. each other, including vs. the US. Here are a few simple daily charts and their current messages. We update these each week in order to be able to confirm ongoing trends or be warned of changes.

The World is and has been in an uptrend vs. the US. It could be losing a bear flag currently. But the big test of the trend would be a test of the (black) SMA 200, which is starting to slope upward.

acwi/spy

Do you seen anything unpleasant about Japan vs. US? I didn’t think so. It just needs to turn the SMA 200 up and clear .22 to go fully bullish.

dxj/spy

EMs are still in an uptrend relative to SPY. It’s somewhat sloppy looking, which makes sense as the firming US dollar has probably had some influence. No interest in EM right now.

eem/spy

China large caps vs. US is fine. No interest in China right now, however (see directly below).

fxi/spy

China vs. Japan is not so fine.

fxi/dxj

Russia/US continues to be interesting and prospective.

erus/spy

Canada vs. US broke above the SMA 50 and has held it for a few weeks. Interesting.

tsx/spx

Europe/US is similar and its SMA 200 is sloping up, which simply means it has been in an uptrend as opposed to Canada, which is trying to start one vs. US.

hezu/spy

I took a profit on Germany (HEWG) as it hit the SMA 200 in relation to broader Europe. It was not for that reason so much as I like some other global prospects vs. US better now.

hewg/hezu

India broke down vs. the World and is bouncing to test the breakdown. No current interest in India.

indy/acwi

India/US is very similar. I had taken the profit on India too soon but would not even think of buying the subsequent momentum. India is not currently of interest.

indy/spy

As for the charts that are bullish or prospective vs. the US? Sort of makes the guy tweeting every other day about the “amazing” US stock market look pretty clownish.

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