The S&P 500 Cap-Weighted Index ((IVV)) has had an exceptional bounce-back week, albeit on very low volume due to the holiday weekend. The index blew through its 200-day moving average, and seems likely to retest resistance at the 50-day MA at the 1426 level. The index is up 13.98% year-to-date.

The S&P 500 Equal-Weighted index ((RSP)) is set up so that every stock in the index has the same weight, thereby eliminating market-weighting’s growth bias. As a result, the index tilts more towards mid-cap and value stocks, which accounts for much of the outperformance versus the cap-weighted index in the last decade. Technically, the index also broke resistance and now finds itself just below the 50-day MA. It’s up 13.12% so far in 2012.

Given the under-performance of the S&P Equal-Weighted Index, one of the themes for the year has been high quality, blue chip stocks outperforming growth-oriented, smaller cap stocks. That out-performance has weakened as of late though, and evidenced by the recent performance of the S&P Mid Cap 400 Index ((IJH)) a. It’s up 12.79% YTD.

The Russell 2000 Small Cap Index ((IWM)) is up 12.01% for the year.

It’s no surprise that the MSCI EAFE Index ((EFA)) lags behind the world in economic performance, given the circumstances. As a matter of fact, if you watched the news recently, you would think Europe was mired in a depression of epic proportions, complete with a melting-down stock market that was bleeding daily.

What is a surprise is the fact the the index is actually up 10.75% year-to-date and that technically, the EAFE looks substantially better than the US stock market. The index currently sits atop both moving averages, with the slope of the 50-day MA turning positive. International markets, specifically Europe, may be the place to be soon.

The MSCI EAFE Small Cap ((SCZ)) has performed slightly better, with a YTD return of 14.05%.