The European ETF (EUFN) has broken above a major downtrend/200 sma confluence resistance level, and has been outperforming the Index since the lows in July, as shown on the Daily ratio chart below.
The Chinese ETF (GXC) is at a 3-year prior pivot high resistance level and has been outperforming the Index since the lows in May, as shown on the Daily ratio chart below.
As in the case of the BAC:SPX ratio pair, these two are also ones to watch to see if the Financials Sector continues to lead the European and Chinese equity markets higher and outperform their Indices in the process.
