Upward momentum has somewhat faltered in the past week as the S&P 500 continues to attempt to break out of its several month long downtrend.  The S&P 500 ETFs (SPY and VOO) are both down over 1% in the past week.  In fact, each major index ETF, except for the Russell Mid-Cap (IWR), is now down over the past week; ranging from just barely negative to sizable losses.  The mid-caps continue to show the most relative strength (IWR, IJH, and MDY).  Conversely, the large cap S&P 100 (OEF) has taken it on the chin and is now down 1.45% in the past five days.  The Nasdaq (QQQ) and Micro-Cap (IWC) are not much better, with each down over 1%.  Despite these losses and while they all still remain in downtrends, the indices have held firm in neutral territory and above their 50-DMAs.

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