Today’s video starts with the weekly charts showing a pretty normal post-breakout extension for SPY, but an overextended advance for IWM. We are also seeing signs of excess in the number of ETFs with RSI readings above 80 this year. Despite overbought conditions, two medium-term breadth indicators are holding strong and have yet to show any deterioration within the S&P 500. We then turn to the ETF ranking tables to show some new trend signals and the current oversold setups. Within the chartbook, XLU and REZ corrected within uptrends and are attempting to break out. Bonds and the Dollar became quite oversold and could be poised to bounce. Note that these two are negatively correlated with the S&P 500 SPDR. And finally, a systematic weighing of the evidence suggests that GLD is in a downtrend and SLV is still in an uptrend.