FYI: As US tech giants are put under the microscope with Facebook (FB), Alphabet (GOOGL), and Apple (AAPL) all now under investigation, the Nasdaq (QQQ) fell over 2% yesterday. These declines have brought it to the deepest oversold levels of all the major index ETFs. QQQ is also now down the most over the past 5 days having shed 4.51%. While every other ETF in this group is still also extremely oversold, mid-caps have begun to bounce off of these extreme levels. The Core S&P Mid-Cap ETF (IJH), Russell Mid-Cap ETF (IWR), and S&P MidCap 400 ETF (MDY) have all managed small gains over the past couple sessions and are outperforming their peers. IWR is perhaps the most interesting of these three as the past two session's gains have come after the ETF found support at the 200-DMA. Additionally, it now sits with the largest YTD gain of 13.54%
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/trend-analyzer-6-4-19-mid-caps-bouncing
