The US is Stronger than the Emerging World Still
- Posted by Greg Harmon
- on August 21st, 2013
About two weeks ago I noted that there was nothing frothy in the current market in Frothy Risk On Market? Umm, Not Yet!. That is still the case. But there is a potential change about to happen. take a look at eh ratio chart of the S&P 500 SPDR, $SPY to the Vanguard emerging Markets VIPERs, $VWO. The ratio has bee consolidating for 2 months and is set up to make a move higher. This is a flow of strength into the US Market and away from Emerging Markets. Above a ratio of 4.4 triggers a Measured Move higher to 4.95. This would also complete a 3 Drives Pattern. The RSI is moving higher and the MACD is curling back up. Both support a move higher.
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Gregory W. Harmon CMT, CFA, has traded in the Securities markets since 1986. He has held senior positions including Head of Global Trading, Head of Product Development, Head of Strategy and Director of Equity. (More)
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