Overall, they look pretty similar to the US in that they are heavily in overbought territory. However, as many of them sold off significantly more than the US stock market did in 2011, many of them are still far from their highs. China in particularly is still only in the midst of its run up and has quite a while to go before recovering from 2011. This indicates a potentially large upside in emerging markets this year after an underperforming 2011. The big question is China and whether the coming Europe recession would dampen trade from many of these commodity/export markets.
More charts after the break
Charts from Bespoke.com