This is incredible:

~94% of the MSCI All Country World Index (ACWI) markets are now running above their 200-day moving average, near the highest in 5 years.

At the same time, ~87% of ACWI countries are above their 50-day moving average, the highest since July.

The ACWI index includes 23 Developed Markets and 24 Emerging Markets globally, representing ~85% of the world's investable equity.

Put simply, the breadth across global equity markets is at exceptionally strong levels.

As a result, the ACWI index has gained +21.6% year-to-date, set for its 3rd-consecutive annual gain.

Meanwhile, the MSCI All Country World ex-US index is outperforming the S&P 500 by 12 percentage points, the widest margin since 2009.

Global equities are on fire.