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Market Breadth Has Collapsed Around The World

Via Gavekal Capital's blog,

The 100-day moving average of the advance/decline ratio for the MSCI World Index has collapsed to its lowest level since November 2008.

 

Out of the 46 MSCI country indices, we count 20 countries where the 100-day moving average of the advance/decline ratio is at its lowest level since 2008 or below it.

Below are charts for the MSCI World Index and MSCI Emerging Markets Index as well as our top 10 worst advance/decline country charts.