🔎 Peru Makes All Time Highs

Last week in our global column, we highlighted Peru’s ETF, $EPU. The breakout has been so compelling that we’re bringing it back to the forefront again this week.

EPU is trading at fresh all-time highs, supported by strong performance from cyclical groups like metals and mining.

Materials now account for roughly 55% of the ETF, compared with just 1.8% in the S&P 500.

When cyclicals are making decisive moves like this, it signals a broadening bull market; an encouraging development as we head into 2026.

This replay breaks down the VWAP structure Kenny trades during December and earnings season.

It’s a practical walkthrough of how price gets pushed, where VWAP matters, and how the unwind actually looks.