RE: Stan Weinstein's Stage Analysis
Charts and the effect of currency
My breadth charts posted previously contain a chart of a Russell 2000 ETF priced in GBP. What is the effect of exchange rates.
Firstly, looking at the ETF FXB we can see that GBP v USD is just entering stage 2A (correct me if I am wrong).
The GBP denominated Russell 2000 chart, DBXT.L:
This is less positive than the USD denominated ETF, RWTO:
So, given the rising pound, the R2000 looks worse if viewed from the GBP rather than USD, which is fairly obvious but is more significant if plotted. So one might make two different views pending on your currency.