This updating chart continues to plod along daily, showing further degradation to the bull case. Chinese FXI led US SPY into the downside of last fall and again to the upside of Hope '09. The longer the ratio fails to find its footing, the more intense the bearish omen for the bullish case.But then, I am a guy with a bearish bias (and a maladjusted attitude) so maybe I am willing all these charts to beg caution. Or maybe not.
See previous post showing this negative indicator.
