SPX | The US is Failing

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Europe and especially Germany (the biggest power in Europe) have suffered this year due to the energy crisis.
There is more background though... The US has performed well until now. This period of US dominance is failing.
The chart above is respecting a long-term trend. Now, price is at the bottom with stochastics primed for continuation of the uptrend for Germany.

To effectively compare Europe and USA we need to "fix" the indices of each country. Currency strength should get out of the picture for us to better analyze equity performance between countries.
So, the DEU40 Index of Germany is multiplied by EURUSD, to get it denominated in Euro. This should always be done when comparing items of different origin (different currency).

As an example, for reference I will also analyze Turkey.

It is as if Turkey is performing incredibly... The General Index XU100 has gone exponential. If we plug in the currency, the picture changes.

There are more evidence against the US...

Turkey is set to overperform the US in the years to come...

Many countries follow Turkey's example:

Honestly, the most dramatic of them all is China. A substantial diversion from it's trend, with a massive double bottom shaping. Will price seek the trend?

Is it a new beginning for China, or the beginning of the end?

Tread lightly, for this is hallowed ground.
-Father Grigori

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India vs China is showing an interesting picture.

India is the new China? Or can China return to trend? Is this even possible?

Brazil the next India?

South Africa the next India?

Japan by itself is looking very precarious...

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I guess the average American TradingView reader doesn't like this picture...

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The EU is Failing...
Germany dominance is already concerning for the other European countries...

I guess the average European TradingView reader doesn't like this picture...

The infamous bull-flag appears, suggesting increased German Hegemony in the European continent in the years to come.