The S&P 500 (United States) has fallen into red territory in our global rankings. This marks a notable development, as under our relative strength ranking America is now in the bottom half of the world in terms of market strength.
The chart below documents the ranking of the United States over the last three months and how it's now in red territory.
The trend favoring the United States has been a persistent one over the last 15 years, and has been marked by continued (and failed) calls of its demise.
But with global stocks nearing a historic breakout, we could be seeing the beginning stages of broadening market leadership outside the United States.
