Since hitting a high on April 4, the SPDR S&P 500 ETF (NYSE: SPY) has fallen over two percent as the momentum stocks have succumb to profit-taking.
The ETF breached the 50-day moving average for the second time this year during the pullback before attempting to rally this week.
The choppy trading has not affected the overall market too much, but individual stocks and ETFs have fared much worse.
Meanwhile, a handful of international ETFs have been able to avoid the selling and have attracted buyers as U.S. stocks struggle. The one trend that has been evident overseas has been money flowing into emerging and frontier markets.
Many of the countries underperformed the U.S. last year, but have now reached levels that are attractive on a valuation basis.
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