Ari Wald, CMT and head of technical analysis at Oppenheimer, was featured on CNBC’s Trading Nation Monday with some insight on the future of investment in emerging markets versus domestic investments. 

“We have seen the S&P underperform since the start of the fourth quarter,” Wald said, as illustrated by the chart above. But “what’s telling for us is that this weakness is still occurring within an uptrend as indicated by that rising 200-day moving average, that the longer-term trend is still pointing toward the U.S.”

“The recent underperformance in the U.S. is more the opportunity to stay overweight the U.S. and re-up on that call,” he added.

Watch the full segment and read the news story here: Emerging markets are outperforming, but one chart suggests the rally could be short-lived.