π America is Underperforming
π Daily ETF Overview
Last week, we pointed to this ratio chart between international equities and the S&P 500, which tracks the United States. We made the point there, as we'll make it again, that this ratio is still making a clean series of higher highs and higher lows.
With the S&P 500 continuing to fall on our global rankings, it's a continued sign that there is still a widening breadth of opportunity in exposure outside the United States.
Here's what else has our attention.
π 4 straight weeks of decline for S&P 500 $SPY, now at #34
π Argentina $ARGT dropped 13 spots this week β the biggest single-week fall on the board
π Thailand $THD is the biggest 3-month climber, up 23 spots
π India $INDY is dead last at #44 out of 44
We may be seeing the beginning stages of leadership changing in the ETF world; from growth, to cyclicals, to international outperformance. But it's not just going to be these ETFs that see the biggest gains.
It's going to be the individual stocks driving the moves underneath them.
And earnings season is when we find out exactly which names the market wants to reward.
On Monday, April 20th, Steve Strazza is hosting a time sensitive investor briefing where he'll break down the one signal his team uses to identify which stocks are about to make their biggest moves on earnings, and how to get in position before they happen.
As a bonus for signing up, you'll get a free copy of the latest Beat Quarterly, where we score every S&P 500 earnings report to show you where leadership is quietly rotating.
