FYI: We are starting off this week with the S&P down 1% so far in October. After more downward moves on Friday, every one of the major US Index ETFs has fallen from this time last week. The large-cap Dow (DIA) has been the best performer in this group, and it is now the only one overbought (but just barely). Of the others, there are 7 neutral and 6 oversold. As you can see in the Trading Range section of the Trend Analyzer, each ETF has a long tail indicating large movements over the past week. Small-caps such as the Micro-Cap (IWC), Core S&P Small-Cap (IJR), Russell 2000 (IWM), and Nasdaq (QQQ) are all down over 3%, with IWC down the most at 4.27% since 5 days ago. These ETFs have moved deep into oversold territory with the rest of the group following in their footsteps.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/trend-analyzer-10818-long-tails/
