Turns Out the Rest of the World Still Exists🌏

Today's number is... 10

The ACWI vs US Industry Group Trend Spread just hit a 10-year high in favor of global markets.

Here’s the chart:

The Takeaway: Global markets haven't looked this strong relative to the US in a long time.

Actually, this is the highest level we have seen in 10 years.

Here’s how I measure trend strength using my custom trend scoring system.

I score every ticker on a scale of 0 to 4:

• The 10-week moving average is rising
• The 40-week moving average is rising
• The 10-week MA is above the 40-week MA
• Price is above the 10-week MA

Each check gets a point. 

Four out of four = strong uptrend.

I apply this to 42 countries from the ACWI and 72 US industry groups — 24 each from the S&P 500, 400, and 600.

Once I’ve scored everything, I take the average trend score for both groups and calculate the spread. Then I smooth it with a 10-week moving average.

So why does this matter?

The spread just hit a 10-year high. 

It's not a fluke. 

This has been building all year.

We’re not seeing a handful of US large-cap tech names drive the market. 

We’re seeing broad strength!

This is important because it reduces market vulnerability. 

If one area stalls, others can pick up the slack.

Broader participation = healthier trends. 

And that’s not how it’s been. 

For years, the US — mostly large-cap tech — did all the heavy lifting.

This isn’t the beginning of a new leadership shift.

Leadership has shifted.

And it's already well underway.

The strongest trends in the world right now aren’t in the US.

They’re everywhere else.

So the question is — are you positioned for it?

Let me know! 

Grant Hawkridge | Chief Aussie Operator, All Star Charts

Every week, Patrick Dunuwila hand-picks the 10 best-looking charts and explains why they matter. Private Access is your shortcut to stronger market context, smarter trades, and staying one step ahead. This is the stuff he’s watching closely — and you should be too. Get Private Access now.

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