Low Volatility Companies are Seeing a lot of Selling
The market is oversold and the bigger concern is that like in July, the safer, low volatility companies are seeing a lot of selling. This fact is partially due to many having high dividends and the market is adjusting to reflect the potential for higher rates. It may take a few more days to get to equilibrium but once it does a bounce will be due.
Here is the long list of ETFs oversold coming into today.
IWM
DIA
EEM
XLY
XLU
XLK
XLI
EWM
XLB
XBI
VYM
VWO
VUG
VTI
EWP
VNQ
VIG
VGT
EWW
IJH
SSO
SPY
SMH
IVV
RSP
QLD
IWB
IWD
OEF
IWF
IYR
IWS
IWO