🏆 Today's Chart of the Day was shared by Jim Knarr (@ChartMonitor).
- The South Korea ETF ($EWY) notched its first all-time high in nearly five years today, clearing its 2021 peak around $96.
- U.S. stocks are having another solid year, but international markets are broadly outperforming for the first time in more than a decade. South Korea has been the strongest of them all, with $EWY up +90% YTD.
- $EWY has already emerged from a multi-year downtrend relative to the rest of the world ($EWY/$EFA), and it's trying to do the same versus the S&P 500 (bottom pane).
The Takeaway: South Korea ($EWY) broke out to an all-time high for the first time in nearly five years today. It's been the strongest international market in a year when capital is finally being rewarded outside the U.S.
