Quick Charting International ETF Money Flow at the Breakout Highs

Aug 1, 2013: 11:56 AM CST

Following up to this morning’s post on the US Market Breakout and Sector Strength/Weakness, I thought it would be instructive to take a look at broader global ETF money flow as well in terms of relative strength and weakness.

As there’s more to view, let’s get straight to the charts:

International ETF Global Money Flow

International Global ETF Money Flow 2

It’s a lot to view so let’s take it step-by-step.

Similar to the Nine AMEX Sector ETFs (prior post), we have iShares international exchange traded funds.

We’re assessing Relative Strength simply by comparing the most recent price with the prior high in 2013.

Global ETFs that are currently above their 2013 high – similar to the US S&P 500 and Dow Jones – will be highlighted green while those that are currently beneath the 2013 high will be labeled in red.

The larger the green or red box, the larger the relative strength or weakness difference in these funds.

Using StockCharts data, only three of the Global ETFs are currently trading comfortably above their respective 2013 high, making them Relative Strength Leaders:

  • EWQ France
  • EWG Germany
  • EWN Netherlands

Three stocks are trading very near their 2013 high currently (as the SP500 breaks to new highs):

  • EWK Belgium
  • EWD Sweeden
  • EWL Switzerland

The following four global ETFs show Relative Weakness:

  • EWA Australia
  • EWM Malaysia
  • EWS Singapore
  • EWW Mexico

The other funds not mentioned above trade beneath their 2013 high but are not as far away from it as the four funds above showing Relative Weakness.

At key turning points or events in a market – such as the breakout for the SP500 – it’s helpful to pull back the perspective to get a sense of the broader picture either from a Sector Rotation standpoint (prior update) or a broader measure of global money flow or Global ETF Relative Strength or Weakness.

Join fellow members to receive daily commentary and detailed analysis each evening by joining our membership services, for daily or weekly commentary, education (free education website), and timely analysis.

Corey Rosenbloom, CMT
Afraid to Trade.com

Follow Corey on Twitter:  http://twitter.com/afraidtotrade

Corey’s new book The Complete Trading Course (Wiley Finance) is now available along with the newly released Profiting from the Life Cycle of a Stock Trend presentation (also from Wiley).

Comments Off on Quick Charting International ETF Money Flow at the Breakout Highs

Comments are closed.