FYI: For the first time since December 17th of last year, one of the major US index ETFs is not in a downtrend. Tacking on another day of gains has led the Dow (DIA) to finally register as trending sideways. While that still may not be the uptrend bulls would hope for, it is certainly an improvement as not a single major index ETF has shown anything but a downtrend in the past two months. Yesterday’s gains also bring the group increasingly close to extremely overbought conditions (2+ standard deviations above the 50-DMA). As they have raged on this year, small caps are the closest to moving into that range. Of these, the Core S&P Small-Cap (IJR) is the most likely to be the first to become extremely overbought. IJR has also been one of the top performers this week as it is up 3.41%.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/trend-analyzer-2-21-19-first-trend-change/
