TradingMarkets Most Overbought and Oversold ETFs for Friday

  • April 30, 2009
  • David Penn

Most Overbought

The following ETFs are the most overbought for Friday, May 1, 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.

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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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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iShares MSCI Brazil Index ETF
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EWZ |
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iShares MSCI Taiwan Index ETF
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EWT |
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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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Semiconductor HOLDRS
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SMH |
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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 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 – iShares MSCI EAFE Index ETF – EFA

EFA Chart

Are some ETFs better suited for high probability, mean reversion trading than others? Learn more about how to choose the right ETFs for your short term trading goals in this ETF trading primer from Larry Connors, The ETF Selection Process, Part 1.

Most Oversold

The following ETFs are the most oversold for Friday, May 1, 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 Silver Trust ETF
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SLV |
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SPDRS Gold Shares ETF
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GLD |
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iShares Barclays TIPS Bond ETF
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TIP |
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ProShares Short Dow 30 ETF
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DOG |
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Oversold ETF Chart of the Day: iShares Silver Trust ETF – SLV

SLV 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.