FYI: This morning there is one less overbought ETF bringing the total number of major index ETFs at neutral to three while the eleven others are overbought. Those that are overbought have fallen off of near extreme levels that we have seen over the past week as well. The ETF that has moved from overbought to neutral is the Russell 2000 (IWM) on a loss of 0.77% over the past week. Despite this loss, it now has a good timing score; the only one of the group that can boast this. IWM is not alone in sitting in the red on the week. The Russel Mid Cap (IWR), Core S&P Small Cap (IJR), and to a greater extent, the Micro-Cap (IWC) are all also down. IWC's losses blow the others out of the water, shedding 1.93% over the past five days, bringing the year to date gain down to 13.61%, the second worst of the group behind the Dow (DIA). Large caps, in general, are a little all over the place. Ironically, while the large-cap Dow is up the least this year, over the past week it and the other large caps have outperformed.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/trend-analyzer-4-18-19-large-caps-all-over
