Following Friday’s steep declines, our Trend Analyzer shows that every major index ETF is now oversold just like they were at this time last week.  Some of these, such as the Russell 2000 (IWM) and Core S&P Small-Cap (IJR), are deeply oversold.  Losses from last week also eliminated most YTD gains for these index ETFs.  The Nasdaq (QQQ) has been the best performer only falling 0.28% over the past week.  It is also the lone survivor in regards to YTD gains.  All other ETFs are now down on the year, with the Micro-Cap (IWC) being the worst of these down almost 10%.  With another down week, long-term trends have also gotten further beaten down with all but the Dow (DIA) moving into downtrends.

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