FYI: Other than the Dow, most major indices saw losses on the day yesterday. These downward movements helped to push the small-cap ETFs further into oversold territory. Recently, these ETFs have had far greater momentum downwards as we have been highlighting the divergence between small-cap and large-cap focused ETFs. For example, the Dow (DIA) has remained one of the best performers recently while the Micro-Cap (IWC) has greatly underperformed. Our Trend Analyzer today is showing a continuation of this with 7 overbought, 3 neutral, and 4 oversold. Like yesterday, most of the overbought ETFs are in a similar place to where they were one week ago, mostly sitting only slightly higher. On the other hand, the ones that have moved down have moved big. Core S&P Small-Cap (IJR) and Micro-Cap (IWC) have both gone into extreme oversold territory. Along with the Russell 2000 (IWM), these three ETFs are all down over 3% from mid-week last week.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/trend-analyzer-10318-more-momentum-to-the-downside/
