Most Overbought and Oversold ETFs

Below we highlight the ETFs that we analyze in our daily ETF Trends report that are currently trading the furthest above and below their 50-day moving averages.  As shown, the natural gas ETF (UNG) is the furthest above its 50-day at 10.66%, followed by the materials stock ETF (XME), and oil and oil stock ETFs.  Just a week or two ago, the oil ETFs were trading above and beyond all other ETFs.  Now that oil has pulled back a little, they no longer dominate the overbought list as much.  Non-commodity related ETFs on the overbought list include telecom (IYZ), networking (IGN), Brazil (EWZ) and Japan (EWJ).

While homebuilders have been market leaders for much of the year, the homebuilder ETF (XHB) is currently further below its 50-day moving average than any other ETF that we track.  XHB is followed by India (INP) and many bank and broker ETFs.  While most energy and commodity ETFs are on the overbought list, precious metal ETFs like SLV and DGL are trading below their 50-days.