Is it time for EU stocks to outperform US stocks again?

FX:GER30   DAX Index
Over the last years there were periods when US stocks outperform EU stocks and periods were EU stocks outperformed US stocks. Almost like a perfect oscillation. Currently EU stocks have been consolidating for quite some time and especially German stock, so maybe all stocks do well and EU ones do better. The secular trend when adjusted for EURUSD rates too, is still down for EU up for US, but in the short term EU ones look better.

I should just say EU ones, because Swiss stocks also look fantastic. They've been actually doing very very well and they look a bit like the DAX . Since 2000 DAX is up 100% vs EUR and 145% vs USD. SMI is up 45% vs CHF and 155% vs USD.

So to me there are two scenarios here as I don't think there is much downside. These stocks are somewhat undervalued both against themselves and against the US stock market, plus the ECB is really printing money and rates are super low which makes the stock market much more attractive than anything else.