The emerging markets have outperformed the U.S. markets of late so it's time to take a closer look.
India has really led the worldwide markets this year. You can see they are having their own December 2012 moment breaking resistance from the 2007 highs.
Singapore is trying to follow suit as it broke a half year falling wedge. 3300 is a huge pivot here that needs to break to get us excited about more upside.
Keep an eye on this Middle East and Africa proxy. It's just been basing in this range since 2010 and a move higher could be the start of a multi year move.
The relative strength in emerged non-US markets (EFA) is apparently ending. Is risk coming on outside the US? Who knows, but what we can gather is emerged markets aren't as attractive as they use to be.
The BRIC ETF has made higher lows relative to last summer and recently ended the intermediate downtrend which is impressive given all the Russia/China noise.
With the recent pivot low around 29.50, there's very low risk here for investors. That's not to say there is no risk, as the long term trend is still sideways.
Odds are pretty good that India will lead global markets in 2014-2015. Does that mean emerging markets in general are set to move higher? Who knows, but we have a few things to watch for clues.
