The appetite for risk has increased over the past month with small-caps, mid-caps and micro-caps leading the market higher. The PerfChart below shows one-month performance for the S&P 500 SPDR (red) and seven other broad market index ETFs. The S&P MidCap SPDR (green), S&P SmallCap iShares (pink) and Russell 2000 iShares (teal) are outperforming SPY with bigger gains. The Nasdaq 100 ETF (black) is lagging with the smallest gain of the group. The Russell MicroCap iShares (purple) is the clear leader with a 6.07% gain over the past month. 
About the author:
Arthur Hill, CMT, is the Chief Technical Strategist at TrendInvestorPro.com. Focusing predominantly on US equities and ETFs, his systematic approach of identifying trend, finding signals within the trend, and setting key price levels has made him an esteemed market technician. Arthur has written articles for numerous financial publications including Barrons and Stocks & Commodities Magazine. In addition to his Chartered Market Technician (CMT) designation, he holds an MBA from the Cass Business School at City University in London.
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