FYI: Most of the major index ETFs are relatively unchanged within their recent trading ranges over the last week. Mid-caps have pressed higher on some of the strongest gains over the past week, leading them to rejoin large-caps in overbought territory. Meanwhile, small-caps like the Core S&P Small-Cap (IJR) and Russell 2000 (IWM) continue to lag behind and are still only at neutral levels. While IWM and IJR have not done great, the Micro-Cap (IWC) has lagged by a much larger margin. Now with the smallest YTD gain of the major index ETFs, IWC has dropped through the 50-DMA on a 1.61% decline in the past week. No other major index ETF currently trades below the 50-DMA or has seen nearly as large of a decline, and IWM, IJR, and the Russell Mid-Cap (IWR) are the only others down versus last week. More importantly, our Trend Analyzer is now showing that IWC is in a downtrend.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/trend-analyzer-7-24-19-micro-caps-iwc-enter-a-downtrend
