>> let's go to the chart master, see what he thinks, carter braxton worth. >> europe is sort of amess. the bagging system is much more prone to trouble there than here and, of course, they're basic contracting where we are not. let's look at charts. long-term chart of the s&p. i wanted to point out the high in 2000 the high in 2007 and of course this powerful breakout of these stops, juxtoppose that. europe, france, italy, spain, it's the same proposition, not all is good long term him meaning it hats a high in 2000. 2007 there is a lower high. it hasn't gotten back, whereas you got the circumstance, europe is not even close, now not only is the long-term not even close, the here and now is starting to diverge. take a look at these charge. this is europe, s&p on a near-term base over the past 12

carter braxton worth. >> the banking system is much more proento trouble there than here.nd of course their basic contracts while we are not. let's see if we can put it all in perspective. long-term chart of the s&p. what i wanted to point out here is of course we know the high in 2000, the high in 2007. juxtapose that against europe. index picks up france and germany and italy and spain. it's the same proposition but not as good long-term. meaning it has a high in 2000. in 2007 it's a lower high and it hasn't gotten back. whereas you've got this circumstance, europe is not en close. and now not only is the long-term not even close, the here and now is starting to diverge. look at these charts. the europe versus the s&p on a near term base. and all of a sudden we're starting to get real divergence now. so the long-term is underperforming. now the day-to-day is coming apart. let's drill down into the big player in europe, germany. this is an etf, the ewg which tracks the daq. so i think there's some warning and here's how we would trade this. it's broken trend for the first