TradingMarkets Most Overbought and Oversold ETFs for Friday

Most Overbought

The following ETFs are the most overbought for Friday, April 17, 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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Consumer Staples Select Sector SPDRS ETF
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XLP |
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Energy Select Sector SPDRS ETF
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XLE |
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Financial Select Sector SPDRS ETF
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XLF |
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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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Utilities Select Sector SPDRS ETF
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XLU |
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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 IYTETF
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IWM |
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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 MSCI Hong Kong Index ETF
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EWH |
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iShares MSCI Japan Index ETF
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EWJ |
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iShares Dow Jones Transportation Average ETF
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IYT |
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iShares MSCI Emerging Markets Index ETF
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EEM |
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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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Semiconductor HOLDRS
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SMH |
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Oil Service HOLDRS
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OIH |
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SPDRS Homebuilders ETF
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XHB |
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Vanguard Health Care ETF
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VHT |
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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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ProShares Ultra QQQ ETF
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QLD |
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ProShares Ultra S&P 500 ETF
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SSO |
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Barclays Capital High Yield Bond SPDRS
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JNK |
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iShares iBoxx High Yield Corporate Grade Bond Index ETF
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HYG |
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Overbought ETF Chart of the Day – SPDRS Homebuilders ETF – XHB

Are you new to exchange-traded funds (ETFs)? Be sure to read our ETF primer, ETF Basics: What You Need to Know About Exchange-Traded Funds.

Most Oversold

The following ETFs are the most oversold for Friday, April 17, 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 20+ Year Treasury Bond Index ETF
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TLT |
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iShares Barclays TIPS Bond Index ETF
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TIP |
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SPDR Gold Shares ETF
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GLD |
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ProShares UltraShort Consumer Goods ETF
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SZK |
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ProShares Short Dow 30 ETF
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DOG |
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Oversold ETF Chart of the Day – SPDR Gold Shares ETF – GLD

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.