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Bespoke: Trend Analyzer – 1/11/19 – So Close

FYI: The major index ETFs have now spent a full week in a neutral range; a welcome change from the extremely oversold levels we saw to finish 2018. That is a major change from where they were at the end of last week when they all still sat firmly in oversold territory. As we close out the first full week of the year, the YTD gains are yet another nice change when compared to how we finished last year. The trend of the current rally has further solidified that investors are rotating more heavily into small-caps. These ETFs are leading their larger peers by a wide margin as the Microcap ETF (IWC) and the Russell 2000 (IWM) are still the best performers. Over this past week, the IWM has been the better of the two with a gain of 8.61%. That strong performance is shared by IJH, IJR, and MDY which also each have edged out gains of over 8%. In contrast, while by no means are they doing poorly, the large-cap Dow (DIA) and S&P 100 (OEF) are doing the worst as the aforementioned small caps have seen over twice the gains on a YTD basis.
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