Equities are still lower than they were at the end of last week, but the past few days have seen a massive rebound which has eliminated most of the past week’s declines. Yesterday’s rally brought most of the major index ETFs back above their 50-DMAs.Only the Dow (DIA), Micro-Cap (IWC), and Russell 2000 (IWM) did not manage to break back above these levels. While IWM and DIA are both less than 0.4% away from their 50-day, IWC has much more progress to make until it does the same as it sits 2.39% below its moving average.IWC is also the only ETF of this group that is oversold and in a downtrend. Other major index ETFs have held onto their uptrends and are still showing good timing scores.

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While the past week’s price action has been volatile, from a purely technical standpoint the past few days’ gains have marked a higher low on a longer-term chart for many of these ETFs. The Dow (DIA) and mid-cap ETFs like the Core S&P Mid-Cap (IJH) and S&P MidCap 400 (MDY) all found logical support close to the 200-DMA. On the other hand, IWC’s bottom earlier this week marked a lower low.

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