BlockBeats News, December 31st, according to The Kobeissi Letter analysis, in the MSCI All Country World Index (ACWI) covered market, about 94% are now trading above their 200-day moving average, nearing a 5-year high. Meanwhile, about 87% of ACWI country markets are above their 50-day moving average, the highest level since July this year.
The ACWI Index covers 23 developed markets and 24 emerging markets globally, representing approximately 85% of the investable equity. The ACWI Index has gained +21.6% year-to-date, poised to achieve its third consecutive annual gain. At the same time, the MSCI All Country World Index (excluding the United States) has outperformed the S&P 500 Index by 12 percentage points, the largest gap since 2009. The global stock market is experiencing an unprecedented investment frenzy.
