As we highlighted yesterday, five of the members in the US Index group of our Trend Analyzer had recently moved out of their uptrends into a sideways trend while only one had entered into a downtrend.  After one more day of declines yesterday, it comes as no surprise that our Trend Analyzer is now showing an increasing number of ETFs in downtrends with Core S&P Mid-cap (IJH), the Russell 2000 (IWM), and Russell Mid-Cap (IWR) all joining the Micro-cap (IWC).  Each one in the US Index group is still well below their 50-DMA and oversold; pretty much universally teetering on extremely oversold levels again.  Small and Mid-caps are the ones expressing the greatest stress.  The weakness among these names has been in place since the second half of September, with most of them falling off a cliff during this rough October.  Over the past five days, the ETFs of these sizes all continue to see losses with IJH, IWR, and MDY also still down YTD.  While their peers are still positive, it is less so now than in recent months.  The Nasdaq (QQQ) has held onto strong gains on the year up 12.28% but is still only up just under 1% over the past five days.  The next best performer is the S&P 100 (OEF) with not even half the YTD gains of the Nasdaq at 5.02% and only up 0.6% over the past week.

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