We see similar trends in the North American and Pacific regions, with 71% and 47% of their members, respectively, back to within 10% of 200-day highs:
Investors in European equities, however, do not seem to have the same enthusiasm-- just 26% of MSCI Europe constituents are within 10% of a 200-day high. On the bright side (we guess), the percent of stocks that are more than 30% away from their 200-day high has managed to remain well below levels seen back in 2011 (though this cohort did spike back to 2012 levels with the recent pullback). As we discussed yesterday (here), we would have imagined a more powerful rebound from this particular group.
