Santa Claus Rally Is Taking Place Where This Year?
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Is Santa Claus bringing good cheer to the Emerging Markets complex this year? The chart below reflects that BRIC ETF's/Emerging markets are reflecting relative strength compared to the S&P 500 over the past 60 days.
The 4-pack below illustrates that key global markets are attempting to break above multi-year resistance levels.
The U.S. markets might be in limbo or driven by news events related to the "Fiscal Cliff" of late, yet when looking at key global markets one can't help but notice that they are attempting to break above key levels they have struggled with for several years.
It has NOT PAID to have much exposure to the BRIC/Emerging markets over the past couple of years, as they have performed poorly compared to the S&P 500 index. Should these key global markets push further above these resistance lines, the odds increase that more buyers will come forward.
(c) Kimble Charting Solutions