Multi decade asset allocation shift in the process?

Rest of world equities (in particular europe) had been underperforming the US for essentially the post GFC era. It seems we are close to getting a test of the support for this decade+ trend. If we get a clear breakdown it might mean its time to bet on equities outside the US.

A few months ago we have gotten a gold breakout against the S&P which seems to me to be the start of a multi year trend.

If rest of world equities outperform that should mean that value would outperform growth. There is value in the US market in particular in the Energy, Healthcare and Small cap financials.