FYI: Yesterday’s widespread declines have eliminated gains from the week for all but one of the major US Index ETFs tracked in our Trend Analyzer tool. The Dow (DIA) is the only one to have edged out gains over the past five days, up 0.76%. It is also the only index ETF to hold firm in overbought territory; of the others, there are 6 oversold and 7 neutral. As you can see from the long tails in in the trading ranges, most ETFs have actually seen fairly large movements back towards or further below the 50-DMA. As we have made note of in the past, small-cap ETFs are falling the most. Core S&P Small-Cap (IJR), Micro-Cap (IWC), and the Russell 2000 (IWM) have moved deeply into oversold territory. IWC is down the most at 2.93%
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/trend-analyzer-10518-dow-stands-firm/
