Observation - Saudi Arabia & India ETF's showing strength

I scanned through a list of ETF's and their respective ishares fund etf and came to the conclusion that Saudi Arabia is the strongest of them all and India takes a close second , literally every other country in clear stage 4 declines .

I may have missed a few smaller countries but this took into account most of them ( The top 40 based on GDP ) .

I know its trend is uncertain but looking at relative strength here and not patterns like head and shoulders top ect ect ...

The second place is India's etf , INDA .


Some stats for the two

Distance from all time high
- Saudi Arabia ETF - 16.92% below high
- India ( 2nd place ) - 18.84% below high
- United states ETF (ESGU) -25% Below high


Distance above 2020 low
-Saudi Arabia - + 107%
-India + 101%
- United States + 65%

Also , note the open gaps marked on chart , KSA is even keeping a gap from 2019 High open currently .
Pretty impressive ...

India's ETF - INDA
Saudi Arabia's ETF - KSA
USA ETF - ESGU ( but also very similar to SPY)