This week we're going to take another look at Australia. We have not looked at Australia since June of last years, so we thought that now would be a good time for an update. Since we last looking at Australia, the Dow Jones Australian Index (AUDOWD) has been up about 16% while our own S&P 500 has been up only about 8%.

You can see that the chart below shows a strong trend for the last few years, we think this will continue for some time. There was a fairly large pull back late last year, but the Williams %R indicator has moved back to the top of its range since then. This has been a strong indicator for the last few years that the trend will continue. We also think that the even slowdown earlier this year and the gains since then are a good indication that the trend will continue.

If you want to invest in Australian companies, the easiest way would be with the iShares MSCI Australia Index (EWA). There are also several Australian ADRs available here, such as National Australia Bank Ltd. (NAB), BHP Billiton Ltd. (BHP). There is also News Corp (NWS), Rupert Murdoch's company, which was formerly incorporated in Australia (now Delaware), but still trades on the Australian Stock Exchange. You can also find a variety of mutual funds that invest completely or partially in Australian companies.

Price Headley is the founder and chief analyst of BigTrends.com.