International Equities are improving

The focus for many investors over the past few years have been in US equities and specifically in large-cap US indexes such as S&P 500 Index (SPX), Dow Jones Industrial Average (INDU), and NASDAQ I00 Index (NDX). The relative performance charts and other technical indicators including price momentum (MACD) and market breadth (Advance-decline) have supported outperformances from US large-cap equities against the world. It is reasonable global investors have concerns about investing in international equities as the result of trade tensions, Brexit, slowing economies in Europe, Japan and China continue to dominate headline news. Despite the above uncertainties we are intrigued with several international equity indexes as they are quietly emerging from their respective lows. In fact, key international indexes are close to major technical breakouts. We will technically review some of the popular international equity indexes including Dow Jones Global Index (DJW), MSCI World Stock ETF (ACWI), Vanguard FTSE All-World ex-US ETF (VEU), European Monetary Union ETF (EZU), Japan ETF (EWJ), and MSCI Emerging Markets ETF (EEM).

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