♫ It's The End Of The World As We Know It ♫

Could a breakdown in these two signal that there are bigger, more structural global issues in equities?

Yes. Absolutely.

I honestly can't think of a better gauge for the health of stocks right now than these two charts above.

The ACWX represents the All Country World Index Ex-U.S.

The EFA represents Developed Markets outside of North America.

They're both attempting to successfully retest those key 2018 pivot highs.

Is there a more important chart right now for equities investors?

And I'm not talking about the irresponsible who got caught holding the bag in US growth stocks. There's nothing we can do to help those religious folks.

I'm talking about actual equities, for actual investors who respect price action and risk management vs sexy stories and narratives they hear about on their television set.

Stocks are an asset class. Stocks are a global asset class. There's a whole world out there outside of US growth. I encourage you to check it out.

This is a bottom line business. Do you want to make money or do you want to be right?

If you bucket yourself in the former category, then you've come to the right place. If you're in the latter and are more interested in your ego than making money, you're probably lost and should not be receiving these emails. We can't help you.

For those of you who are open-minded, are in the market only for profit, and don't let your ego stand in the way of making money, then I commend you.

I also encourage you to reach out. What got you to this point in your investing career? A tough lesson, watching others?

Let's hear it. You can contact us here to share your story!

JC