Which is predominately driven by America
And less so by China (as per popular belief)
For the remainder of this century, I suspect the correlation will gradually align more with China as it inevitably becomes the dominant world economy.
Post the next US contraction may be the point where I will have to start considering building a second set of traffic lights for China. But until then, it is just more noise.
The XJO will continue to dance to the tune of the SPX.
