No change on this front in regards to relative outperformance of EWA.NYSE vs SPY.NYSE in the HOURLY TIME FRAME as of this writing.
EWA.NYSE ETF still out performing SPY.NYSE SPDR as can be seen on the chart. We now have an established UP TRENDING CHANNEL with price action registering higher peaks and higher troughs within the channel. A classic 2nd TF Dow Theory Uptrend.
To add a further spice to this short term ratio analysis, I have included the EWG.NYSE (German ETF) as well. EWA is also outperforming EWG in the short term hourly as shown in the bottom window. It may be short lived, but this fact can not be ignored until proven otherwise by our charts.
Lots of talk in the media about different Bonds out performing US equities at the moment, but nothing on this front !
In any case, SMART MONEY (C.O) may have discovered a new playing ground and we welcome them with our arms wide open.
If interested check the holdings of EWA.NYSE ETF.
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