SPX vs the World

Interesting comparison charts for the SPX (blue) with China H-Shares Index (black):

Similar pattern seen with the Eurostoxx 50 over the last 2 years:  SPX (blue), Eurostoxx (black)

Notice SPX going higher in July to October 2018 while both H-Shares and Eurostoxx traded sideways.  Then the SPX crash from October to December 2018. 

Seeing similar pattern of SPX rallying while both H-Shares and Eurostoxx trade sideways since early June.  Another repeat of the pattern would lead to an SPX crash this fall. 

This is an unsustainable trend of SPX outperformance vs the world.  It has been going on since 2010.  It reminds me of emerging markets outperformance vs SPX from January 2006 to August 2008.  There is a nasty SPX bear market looming.