Mike's Mid Day Minute is available to members on Monday, Wednesday & Friday evenings, with one article per week available to non-members. Members please login and see "Mike's Mid Day Minute" in the navigation menu towards the top of the page.

Small-Cap Index is No Longer Leading the Charge...


Let's notice that both the SPDR S&P 500 (SPY) and the iShares Russell 2000 Index (IWM) peaked last week within one day of each other.

However, the SPY high occurred after a sharply-angled advance, while the IWM advance ended after a sideways rally that failed to sustain a thrust to a new all-time high.

In addition to showing relative weakness into last week's high, notice that the ensuing bout of weakness represented a 3.3% decline in the IWM, but only a 1.3% decline in the SPY.

Finally, my trending MA's in the SPY rolled over into a sideways configuration, while the same MA’s in the IWM triggered a negative cross-over (near-term sell signal) late on Oct 29.

Right now, on a relative basis, one would much rather be long SPY than IWM, and/or neutral SPY vs. short IWM.

  • Action-Oriented Trade Set-Ups in Stocks & ETFs
  • Macro Analysis of the Broader Markets
  • Detailed Technical Guidance for each Trading Idea
  • Live Interaction w/ Mike & Our Member Community
  • And Much, Much More!
Join Now! - Special Offer!
Veteran Wall Street analyst and financial author, Mike provides detailed and timely analysis and trade set-ups on a range of markets. Read more...

Have Mike's “Out Front” morning analysis delivered FREE to your email inbox twice weekly!