We’re noticing an increasing number of international markets showing relative strength.
This includes familiar standouts like China, Argentina, and Israel, as well as newer additions like Colombia, Chile, and Italy.
It's especially surprising to see many Latin American country ETFs gaining strength recently, with Colombia rising nearly to the top of the power rankings.
When we take a step back, this makes sense, as the iShares Latin America 40 ETF ($ILF) recently found support at the lower end of its long-term range.
However, the region still faces significant challenges, with Brazil and Mexico making up 85% of the ETF.
Interestingly, it's the countries that don't dominate this index—like Colombia, Chile, and others—that are showing the strongest performance.
