As the weeks go by, the S&P 500 continues to slip in the global rankings.
It’s becoming harder to ignore the strength emerging overseas. International markets are flashing compelling opportunities—with attractive valuations and a clear resurgence in relative strength giving nimble investors plenty to work with.
Just look at Europe. It’s lit up in green. That’s relative strength in action.
After more than a decade of sideways action, Spain’s $EWP is breaking out to new all-time highs—defying the uncertainty weighing on U.S. equities.
Germany’s $EWG is doing the same—ripping to record highs.
Austria’s $EWO? New all-time highs as well.
Meanwhile, U.S. markets continue to wrestle with overhead resistance, struggling to reclaim its past glory.
With these long-term breakouts now taking shape abroad, it’s worth asking: Is the cycle of U.S. dominance finally running out of steam?
