Still, technical analyst Tarquin Coe at Investors Intelligence notes that mid-caps have been heating up again recently.
“That is reasserting the long-term relative uptrend and is bullish for the market as a whole,” he said in a newsletter.
“Despite being at record highs, breadth is not overstretched in U.S. mid-cap stocks,” Coe said. “Breadth is steadily rising, indicating increasing participation as the market climbs, which is bullish.” [Equal-Weight ETF Consistently Outperforming S&P 500]
