From our Trend Analyzer, 8 of the Major US Index ETFs are overbought, 6 are neutral and none are oversold. Much like earlier in the week, most of the overbought ETFs are not deep in overbought territory, with the exception of the Dow (DIA). In terms of change from one week ago, DIA has more than doubled the next best performer. It is also the most overbought out of the US Index ETFs.
While the DIA has outperformed, the rest of the group has fallen behind, especially small to mid-cap focused ETFs. The S&P MidCap 400 (MDY), Core S&P Mid-Cap (IJH) and Core S&P Small-Cap (IJR) are all down from one week ago alongside the Russell 2000 (IWM) and the continuously week Micro-Cap ETF (IWC). The Russell Mid-Cap (IWR) is barely positive over the last week.