AD Ratio Diverging Among Regions - Asia Is Improving and North America Is Deteriorating

The 200-day moving average of the Advance/Decline Ratio are showing some significant divergences among regions in the MSCI World. On the positive side the AD ratio has significantly improved for MSCI Asia-Pacific since September 2013. The AD ratio has converged back towards the price series. Meanwhile in North America, the AD ratio is making 4-year lows.  Overall for the entire MSCI World Index, the AD ratio has held relatively steady for a year.