It may come as a surprise to some, but most of the International Developed and Emerging Markets have been outperforming the US markets for quite some time on a relative strength basis.
In this chart, we will look at Europe (the S&P Europe 350 Index ETF) $IEV and compare it to the S&P 500 by dividing the price of $IEV by the price of $SPX to make a relative strength chart.
When the chart is rising left to right, Europe is outperforming the US. When the chart is falling, the US has the upper hand.
Since bottoming in late July, Europe has persistently had the upper hand.
Have fun and thanks for the visit,