TradingMarkets Most Overbought and Oversold ETFs for Thursday

Most Overbought

The following ETFs are the most overbought for Thursday, April 30, 2009 and are due for a short term reversal. This analysis is based on research published in the book, High Probability ETF Trading, now available for pre-order.

Consumer Discretionary Select Sector SPDRS ETF
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XLY |
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Energy Select Sector SPDRS ETF
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XLE |
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Health Care Select Sector SPDRS ETF
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XLV |
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Industrial Select Sector SPDRS ETF
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XLI |
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Materials Select Sector SPDRS ETF
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XLB |
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Technology Select Sector SPDRS ETF
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XLK |
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Dow Diamonds ETF
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DIA |
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S&P 500 SPDRS ETF
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SPY |
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PowerShares QQQ Trust ETF
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QQQQ |
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iShares Russell 2000 Index ETF
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IWM |
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iShares MSCI Brazil Index ETF
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EWZ |
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iShares Dow Jones Transportation Average ETF
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IYT |
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iShares MSCI EAFE Index ETF
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EFA |
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iShares S&P Latin America 40 Index ETF
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ILF |
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United States Oil Fund
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USO |
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Oil Service HOLDRS
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OIH |
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ProShares Ultra Financials ETF
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UYG |
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ProShares Ultra Consumer Services ETF
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UCC |
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ProShares Ultra Industrials ETF
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UXI |
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ProShares Ultra Technology ETF
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ROM |
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ProShares Ultra Oil & Gas ETF
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DIG |
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ProShares Ultra Materials ETF
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UYM |
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Barclays Capital High Yield Bond SPDRS ETF
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JNK |
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iShares iBoxx High Yield Corporate Bond ETF
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HYG |
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Overbought ETF Chart of the Day: SPDRS S&P 500 ETF – SPY

SPY Chart

Most Oversold

The following ETFs are the most oversold for Thursday, April 30, 2009, and are due for a short term reversal. This analysis is based on research published in the book, High Probability ETF Trading, now available for pre-order.

iShares Barclays Aggregate Bond ETF
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AGG |
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iShares Barclays TIPS Bond ETF
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TIP |
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Oversold ETF Chart of the Day: iShares Barclays Aggregate Bond ETF – AGG

AGG Chart

In High Probability ETF Trading you can learn strategies to enhance your ETF trading. Trading overbought and oversold markets is just one quantifiable strategy for trading ETFs — click here to learn more.