US Related Ratios
Most items are daily charts, except for the first one, which is a long-term view of growth vs. value stocks. this is a robo trend that is still beneficial to risk ‘on’.
The ratio of the banks to SPY is still suspect. At some point this ratio and the 10yr yield should reconnect. As already noted, I got rid of KRE on the bounce in order to play yields directly.
Semis lead tech…
…and tech is breaking out of an Ascending Triangle leading SPY.
Internet is still in an active uptrend (higher low) vs. tech.
We’ve been noting that if you’re gonna be in Healthcare, device/equipment was the best place to be.
And medical device is starting to look better in relation to SPY as well. I held my device stocks, CRY, MZOR & MDT along with the iShares through this week’s market volatility.
Biotech vs. Healthcare is bouncing. Now using XBI as it is more closely tethered to the Biotech index than IBB, which seemed to have too many risky companies in its weighting.
Small Caps are bouncing vs. SPY after breaking down.
Global Related Ratios
The World is trying to find support at the SMA 200 vs. SPY. Uptrend under significant threat.
Japan/US remains constructive after we’d noted its move back in September.
Europe/US has failed what I’d thought was a decent pattern.
I remain not interested in EMs as a US investor. Not as of today’s chart, anyway.
EM stinks vs. Asia (ex-Japan) and I’d buy that before I’d buy EM.
China 50 is pretty good vs. US.
We’d noted that Russia would get prospective if it made a new high vs. SPY. It didn’t.
Despite a massive bounce in October vs. the World (and US), we’d noted little interest India. That is still the case.
Finally, Canada had been looking prospective vs. the US… until today. Will the breakdown get undone tomorrow? Who knows? This is the screw everybody market.
Subscribe to NFTRH Premium for an in-depth weekly market report, interim updates and NFTRH+ chart and trade ideas; or the free eLetter for an introduction to our work. You can also keep up to date with plenty of actionable public content at NFTRH.com by using the email form on the right sidebar. Or follow via Twitter @BiiwiiNFTRH, StockTwits or RSS. Also check out the quality market writers at Biiwii.com.