As a follow-up to our last post, http://wp.me/p2Oyf5-5r we discussed Europe’s continued relative strength over the US Stock Market, using the $IEV ETF as the proxy.
Today, I thought we would dig down further and look at some individual country funds that are showing great relative strength and compare them on a relative strength basis to $IEV. After all, some of these are driving the success of IEV’s performance.
As you can see in the 4 country charts above, $EWI Italy, $EWP Spain, $TUR Turkey and $EWO Austria are all showing great RS vs. $IEV and have given recent RS buy signals in some cases (green circles).
In any case, being more aggressive with individual countries or going with the region, all are signaling the place to be for now.
Thanks for the visit,