Kospi clutter
Pretty much all markets are underperforming the U.S. lately, as Dean noted again in his Absolute & Relative Trend update. Asian markets have been hit especially hard, and at the end of last week that resulted in some short-term extremes in the Kospi.
Despite a rising 200-day moving average on the index, more than 55% of members fell to a 4-week low. The Backtest Engine shows an almost perfect record for rebounds over the next 1-4 weeks. To run this test yourself, click here then Run Backtest.

The selling has been broad, severe, and quick enough that the McClellan Oscillator for the index plunged below -85. Again, within a solid longer-term uptrend. The Backtest Engine again shows a nearly unblemished record for a bounce, with that major exception triggering pre-pandemic.

