Below we highlight one-year price and p/e charts of 10 major country indices. We also include the trading areas for each index (2 standard deviations above and below the 50-day moving average) to show where the current price is in relation to its normal levels. As shown, Europe has not participated on this last leg up in the S&P 500. The UK, France and Italy are all trading closer to the bottom of their trading areas than the top. Hong Kong, India and Brazil are trading in overbought territory, and China is making an attempt at all-time highs once again.
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