Chart Talk {Foreign Markets-Again No Place To Hide}

We showed a chart on Monday of how similar the major US averages had traded since last spring.   I decided to take a look at some major foreign indices and some foreign indices that are dividend payers to see how they've looked.  Here's that chart with the S&P 500 as comparison.  Notice how similar all of these look.  The only real difference is the degree of volatility and in this chart the degree of loss.  The S&P 500 is the World's Fair having lost only about 8% through Monday.  Note you can double-click on these charts to make them larger.

Below here's a longer term version of the same thing.  This time we go back to the beginning of 2015.  Basically again we see world markets trading in lock-step with the only real difference again the degree of volatility and the degree of loss.  It seems that the risk on risk off mode of investing is firmly in place these days in most asset classes.  It seems that when investors want out the only key difference is how much will an asset go down in a bearish time period.

  

Charts  are from Stockcharts.com.

*Long ETFs related to all the various indices listed above with the exception of Latin America.   Please note these positions can change at any time without notice.