The rally in Emerging Markets relative to the S&P 500 this year was all within the context of a longer term range.  Now that’s changed.

During the recent market correction, emerging markets have only extended their gains relative to the S&P 500 and have turned the longer trends higher.

eem spy

This idea of global and emerging market outperformance is something i’ve harped on all year, but this is evidence that this could be a multiple year thing.

Thanks for reading.  Trade ’em well