Not even geopolitical events in Ukraine, Iraq, and Syria, a third European recession in five years, or anemic Black Friday traffic and sales numbers can dislodge the US markets. A month after hitting the 1820 level, the S&P 500 Index (IVV) broke through all resistance on its way to new all-time highs at the 2075 level. The S&P 500 is up 13.90% YTD.

The EMU Index ((EZU)), or the European Economic and Monetary Union, may have just broken throughan ugly downtrend line that its been mired in for some time. While the news out of Europe is still pretty grim, the market has broken through resistance at the 50-day moving average and at the 38 price level. The index is down 4.31% for all of 2014.

The Russian Index ((RSX)) has been hit pretty hard by the US-EU-imposed sanctions, and finds itself making new lows. Despite the fact that the market is extremely cheap, if Putin continues to provoke and antagonize expect the index to continue to fall. RSX is down a harsh 32.25% year-to-date.

A stronger US dollar and crashing crude oil prices is finally taking its toll on the Middle East Index((GULF)). This despite the fact the the Islamic State is finally being contained in Iraq. The index broke below both MAs as crude prices have fallen over 30% in the last few months. The index is still up 17.21% YTD though.

The Latin American market ((ILF)) broke down in September in emphatic fashion. It broke through both the 50-day and the 200-day moving averages on its way to a 15% loss in a little over a month. It was moved concurrently with the crashing commodities market and is still struggling to hold support. The index has recorded a 2.81% loss so far this year.

Africa’s market ((AFK)) has managed to grind higher for most of 2014. But the deadly Ebola outbreak and continued upheaval in Northern Africa, coupled with a weak global economy, has finally dampened Africa’s run.  Africa is now down for the year, after a horrible September and October, and a non-existent recovery in November. It has lost 7.73% YTD.

The Chinese economy, along with the Indian and Southeast Asian economies, had been trending up before succumbing to the strong US dollar. It now finds itself just below both moving averages after hitting and failing at the 48 level just two weeks ago. The Pacific x-Japan index ((EPP)) is up 1.18% YTD.

Japan ((EWJ)) broke out this past week as the BOJ unexpectedly eased monetary policy. Japan is still down 3.62% for all of 2014.