FYI: There were large price movements in both directions last week, but overall, major US index ETFs traded up quite significantly. Even after last week’s gains, though, every ETF shown in our Trend Analyzer snapshot below is well below its 50-day moving average and trading slightly in oversold territory. Things are pointed in the right direction, however, as is evidenced by the long tails in the trading range section of the snapshot. For each ETF, the dot represents where it’s currently trading within its normal range, while the tail end represents where it was trading one week ago. At the start of last week, index ETFs were deeply oversold, but they’ve moved higher and momentum has them pointed in the right direction at least. We’ll see what this week brings!
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/trend-analyzer-11518-still-oversold/
