Data shows that approximately 94% of global stock markets maintain their 200-day moving average, indicating a fierce competition in equity investment.
TL;DR
Nearly 94% of global markets in the MSCI ACWI index are above their 200-day moving average, a five-year high, with the index up 21.6% year-to-date and non-U.S. markets outperforming the S&P 500 by 12 points, signaling intense equity investment competition.
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According to an analysis by The Kobeissi Letter on December 31, approximately 94% of the markets covered by the MSCI Country World Index (ACWI) are now trading above their 200-day moving average, near a five-year high. Meanwhile, about 87% of the ACWI country markets are above their 50-day moving average, the highest level since July of this year.
The ACWI index covers 23 developed markets and 24 emerging markets globally, representing approximately 85% of investable stocks worldwide. The ACWI index is up 21.6% year-to-date, on track for its third consecutive year of gains. Meanwhile, the MSCI World Country Index (excluding the US) has outperformed the S&P 500 by 12 percentage points, the largest gap since 2009. The global stock market is experiencing an incredibly hot investment frenzy.