FYI: The major index ETFs began the day yesterday split down the middle with half overbought and the other half still neutral. A large gap higher at the open led to a few more also entering overbought territory; namely the large-cap S&P 100 (OEF) and Nasdaq (QQQ). Of this group, QQQ has surged the most over the past week and is now sitting almost 3% higher. While the gap higher did make conditions generally more overbought across the board, some intraday selling prevented things from reaching any sort of extreme level. With the Core S&P Small-Cap's (IJR) gains in yesterday's session, only the Micro-Cap ETF (IWC) still remains below the 50-DMA.
Regards,
Ted
https://www.bespokepremium.com/interactive/posts/think-big-blog/trend-analyzer-6-20-19-only-defensives-are-also-at-highs
