Chart of the Day: India vs The Rest

This is one of the more fascinating developments that I'm seeing around the world. With the Emerging Market space getting slaughtered these days, India is surprisingly outperforming its BRIC counterparts by a lot. We're not talking about a few basis points here folks. This is massive outperformance out of India.

Take a look at this 6-month performance chart of the BRIC nations. China, Brazil and Russia are all down double digits, with Russia continuing its crash and now down over 18% since September (down 50% since 2011 top). But India is magnificently up 13.5% over the past 6-months even outperforming US Stocks during that period:

All of these BRIC charts look like massive tops to me. One looks worse than the next. But India is breaking out to new 10-month highs. This is something that we simply cannot ignore.

Tags: $EWZ $EPI $RSX $EEM $SPY $FXI