Approximately 94% of markets in the MSCI All Country World Index (ACWI) are currently trading above the 200-day moving average, reaching the highest level in nearly 5 years.

Meanwhile, about 87% of ACWI countries are above their 50-day moving average, the highest since July.

The ACWI index covers 23 developed markets and 24 emerging markets globally, accounting for approximately 85% of the investable global equity universe.

In short, the breadth of the global stock market is at an exceptionally strong level.

As a result, the ACWI index has risen 21.6% year-to-date, on track to achieve its third consecutive year of annual growth.

Meanwhile, the performance of MSCI All Country World Index ex-US outperforms the S&P 500 by 12 percentage points, the largest gap since 2009.

Global stock markets are on fire.