around the world …. the song remains the same

cliff notes: not one new high across the world.  Malaysia has given it a good try, but has not “on close” exceeded it’s 2007 high.  the song remains the same …  http://www.youtube.com/watch?v=CcYZlRWWxO0

EWW Mexican ETF March 22 2014 EWM Malaysia EWA Australia March 22 2014 CNY Yuan March 22 2014 EWH Hong Kong March 22 2014 EWC Canada March 22 2014 ACWI Global Equity ETF March 22 2014 FXI China March 22 2014 EWQ France EWG Germany ETF EWU UK March 22 2014 EWJ Japan March 22 2014 EWY Korea March 22 2014 EWT Taiwan ETF EWZ Brazil ETF EZA South Africa March 22 2014 Main20140322103557

Part 2 of Part 1-V on the S&P

Part 1 was a look around the world at different equity indices based on ETF’s:

http://bartscharts.com/2013/09/14/part-1-the-sp-500-but-first-we-need-to-go-around-the-world/

of note is the Global Equity ETF (ACWI) and the SELL pattern that is appearing as we showed in our last “around the world” update shown below. Overall, nothing to crazy but the analysis appears to have been correct.  Summary: NONE of the “around the world” indices have come even close to making new highs from the 2007-2008 time frame.

ACWI Butterfly Sell Pattern
ACWI Butterfly Sell Pattern

Part 2 was the banks and too big to fail:

http://bartscharts.com/2013/09/14/part-ii-the-sp-500-and-too-big-to-fail/

The targets w/in the 21-22 area are approaching … the XLF is close to being a sell if not already one.

XLF update
XLF update

Part 3 took a look at technology:

http://bartscharts.com/2013/09/14/part-iii-the-sp-500-and-the-influence-of-technology/

Palladium has an extremely nice sell pattern and multiple patterns were hit or are about to hit …NASDAQ futures have an extremely strong target and sell pattern coming in right here, right now

NAZZIE Futures Continuous Contract
NAZZIE Futures Continuous Contract

Part IV was energy

http://bartscharts.com/2013/09/15/part-iv-sp-and-energy/

this is the one sector that isn’t showing a clear SELL signal – yet.  As you can see below w/ the XLE a case can be made for another 10% higher or it needs to start down now…energy could be the one sector that holds this puppy up for now.

Energy, a case could be made for continued strength thereby delaying the move down in the S&P
Energy, a case could be made for continued strength thereby delaying the move down in the S&P

and finally, part V was the look at ratio’s and sector rotation:

http://bartscharts.com/2013/09/16/part-v-sp-and-sector-rotation/

the pattern has completed perfectly and even w/ the S&P making new highs, this pattern has held …. this is bearish for the overall equity market.

a turn in this ratio has been present at EVERY major inflection point since 2000.  a BUY in the ratio is a SELL in equities
a turn in this ratio has been present at EVERY major inflection point since 2000. a BUY in the ratio is a SELL in equities

 

CONCLUSION:

ACWI, XLF, NAZZIE, SELL pattern complete/completing.

XLP/SPX ratio showing a beautiful BUY (SELL equities) pattern …

US DOLLAR low in here or perhaps a little lower

ENERGY needs to be watched like a hawk….

Do you really want to be long this market?  The only way I would stay LONG is if all the above fails and, quite frankly, that could happen.  So, watch ENERGY and DOLLAR strength for first clues.

WEEKLY S&P CASH SELL TARGETS
WEEKLY S&P CASH SELL TARGETS

 

DAILY S&P CASH sell patterns appearing
DAILY S&P CASH sell patterns appearing