FYI: Despite a nice rally on Friday, every major US index ETF in our Trend Analyzer tool is still below its 50-day moving average and lower within its trading range over the last week.
As stocks begin to bounce, some have found logical support like the Dow (DIA) at its 200-DMA and the Russell 2000 (IWM) at its previous low established in late May. Meanwhile, other indices like the S&P 500 (SPY) and Nasdaq (QQQ) have paused in the middle of their range between the 50-DMA and 200-DMA. Small and mid-caps like the Russell 2000 (IWM) and the S&P MidCap 400 (MDY) still remain below both moving averages.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/trend-analyzer-8-19-19-mean-reversion
