Relative strength of European Retail versus Technology and US Retail versus Technology. Both show a similar development and lead to an equal strategy: sector rotation.
The long term downtrend has ended for both spreads. This signals the start of outperformance of the retail sector (=rising chart) versus Technology. Note that this outperformance is in both cases also visible versus the broader index, but less pronounced.
OUT: European Technology Sector
IN: European Retail Sector