where to wednesday, page-92

danube - stockcharts; $SPX:$USD is the same as S&P500/USD ratio. I think the next one might answer it above.

I think using it as using INDEX/CURRENCY ratios account for external foreign currency investment into that market.

So for instance, if we use hard dollar AUD, convert to USD exchange, invest in US, then later back to AUD, the nett return on that original AUD increased/decreased with the exchange rate and in the index (market) movement - hence it is shown up in $SPX/$XAD ratio.

Likewise -
- for Japan investing in AUST, use $AORD:$XJY
(crudely, as can only use one variable on stockcharts)
- for China investing in AUST, use $AORD:$USD
etc

IMO, those currencies pegged to the USD become more important also because of the low USD. I'me trying to picture the flow of investment capital.

There are parts of the I wouldn't touch with your money, and I think managed funds are thinking the same - but where is it going and how long will it stay there? This is fundamental behind the cycles.

That's what I'm trying to guestimate by using the currency ratios above. Hope this answers it?

rgds,
pw