As lower closes have become more or less the norm lately, the major US Index ETFs from our Trend Analyzer continue to look worse and worse.  Every one of the members of this group is still deeply oversold.  More concerning is that half of these are now in downtrends after declining all of October.  Once again those fairing the worst are predominantly comprised of small to mid-caps.  Up until this point, the other members of this group had held up relatively well.  Even though they have been declining this month, they had not gone under levels from the start of the year.  This does not hold as true anymore. An increasing number have either gone negative on the year or are close to it.  The Nasdaq (QQQ) is the only one up more than 1% YTD.  Furthermore, QQQ is a far cry from where it had been just one week ago.  This time last week it had seen YTD gains of 12.28%, but since that time, QQQ has fallen 6.14%, cutting these gains by more than half to 5.38% YTD.

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