Early Signs of a Global Decoupling

There are early signs of a global decoupling occurring again with Latin America (ILF, EWZ) again pulling back, DIA now in neutral territory and IWM with a ConnorsRSI reading above 90. Right now this is normal; what isn’t normal is the extreme overbought readings in many US sectors combined with volatility being driven down to short-term extremes. Expect a pullback albeit a likely short-term mild one.

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