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U.S. relative strength is starting to roll over

Several broad U.S. equity ETFs ended Tuesday at two month lows relative to the MSCI ACWI. 50-Day breadth is now higher in the rest of the world (ACWX) than it is in the U.S. (VTI). iShares MSCI ACWI ETF (ACWI) returns have been much stronger when this is the case.

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