VWO has been outperforming since the start of the year. So far, the overall trend is still up but showing signs of crack. RSI and MACD are both breaking. the ratio itself is still above the support, and the MA cross is yet to generate a sell signal.
1. Emerging market shows strength, as shown on the VWo/VTI ratio chart.
2. As of last trading day of April, it broke a major resistance line that has been there since April 2011.
3. 3 month moving average crossed above 5 month moving average, a buy signal.