One of the big themes that I see globally right now is the inordinate amount of bullish momentum divergences across the board. You can see these even more pronounced in the emerging market countries, although to be fair, they can be found in the developed nations as well. They are all detailed in the Chartbook. I think that a very telling chart right now is the S&P500 vs the MSCI Emerging Markets Index.
Here we are looking at a very well-defined multi-year uptrend channel in the S&P500 vs MSCI Emerging Markets Index going back to 2011.
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