FYI: Below is a snapshot of U.S. equity index and style ETFs that we track in our daily ETF Trends report available to Bespoke Premium and Bespoke Institutional members. A few key columns that only subscribers can see have been removed, but this snapshot still gives you a good idea of where the market stands.
In the trading range section below, the black vertical “N” line represents each ETF’s 50-day moving average. As you can see, nearly every ETF is currently in neutral territory, with most just a notch below their 50-day moving averages. If we get a decent up day today, though, the large majority will end up breaking back above their 50-days for the first time in weeks. We wouldn’t get too giddy just yet, but this kind of move is what bulls are looking for if the longer-term downtrends in place are going to be broken.
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/us-equity-etfs-attempting-to-move-back-above-50-dmas/