European index proxies as one weekly-regime panel

Four country baskets as one panel

The archive presents four listed country baskets as tradable stand-ins for the Swedish, French, German, and United Kingdom equity indexes. Each basket is an index-proxy: a listed country basket used as a stand-in for a national equity index so one market can be compared with peers.

The same 2003-2004 window is used across the four country proxies so a single-market breakout, range, or lag can be read against peer-market structure. A weekly-moving-average is a 20-week or 50-week average of proxy prices used to mark whether an intermediate advance is still intact.

Shared stall, different later paths

The Swedish proxy is described as having cleared its 20-week and 50-week averages in late spring 2003, paused after an early-2004 stall, then later broken to a new multiyear high.

The French proxy is described as having bottomed in spring 2003, spent much of the next year ranging after an early-2004 stall, then later printed a new multiyear high relative to the January 2004 high.

The German proxy is described as not matching the new multiyear highs of the Swedish and French proxies after a March 2003 low, an early-2004 stall, a later range, and a subsequent reclaim of the 50-week average.

Editorial reading: the German path is a peer-lag, a country proxy that participates in a regional advance but has not yet matched a new high printed by related markets.

The United Kingdom proxy is described as remaining above its 50-week average after the shared early-2004 stall and later setting new multiyear highs.

Country labels also carry sector weights

The four country proxies are concentrated in different industry mixes, so a country-level comparison also embeds different sector weights.

An intermarket-regime is a cross-country reading of whether related markets share the same advance, pause, or breakout structure. Editorial reading: because those industry mixes differ, a country-level comparison is not a pure single-country factor.

Breakout, range, and lag as context

Editorial reading: the same weekly-moving-average scaffold across peer markets turns a single-country breakout, range, or peer-lag into a portfolio-context fact rather than an isolated chart story. The 2003-2004 window is the shared frame that makes those differences readable.