TradingMarkets Most Overbought and Oversold ETFs for Thursday

  • October 21, 2009
  • David Penn

Most Overbought

The following ETFs are the most overbought for Thursday, October 22, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors’ new book, High Probability ETF Trading.

ProShares UltraShort Financials ETF
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SKF |
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ProShares Short Russell 2000 ETF
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RWM |
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ProShares UltraShort Russell 2000 ETF
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TWM |
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ProShares Short S&P 500 ETF
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SH |
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ProShares UltraShort S&P 500 ETF
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SDS |
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ProShares UltraShort Dow 30 ETF
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DXD |
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ProShares Short Dow 30 ETF
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DOG |
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ProShares UltraShort Real Estate ETF
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SRS |
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ProShares UltraShort Basic Materials ETF
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SMN |
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Overbought ETF Chart of the Day – ProShares UltraShort Financials ETF – SKF

SKF

Most Oversold

The following ETFs are the most oversold for Thursday, October 22, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors’ new book, High Probability ETF Trading.

PowerShares Financial Preferred Portfolio
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PGF |
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SPDR KBW Regional banking ETF
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KRE |
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SPDR Homebuilders ETF
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XHB |
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KBW Bank ETF
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KBE |
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iShares Dow Jones U.S. Home Construction Index Fund ETF
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ITB |
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Regional Bank HOLDRS ETF
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RKH |
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iShares Dow Jones U.S. Financial Services Index Fund ETF
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IYG |
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iShares Nasdaq Biotechnology Index Fund ETF
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IBB |
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Pharmaceutical HOLDRS ETF
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PPH |
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Financial Select Sector SPDRS ETF
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XLF |
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iShares Dow Jones U.S. Financial Sector Index Fund ETF
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IYF |
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ProShares Ultra Financials ETF
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UYG |
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SPDR KBW Insurance ETF
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KIE |
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Vanguard Small Cap Growth ETF
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VBK |
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Retail HOLDRS ETF
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RTH |
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ProShares Ultra Russell 2000 ETF
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UWM |
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Market Vectors Gold Miners ETF
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GDX |
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iShares Russell 2000 Growth Index Fund ETF
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IWO |
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PowerShares Water Resource Portfolio ETF
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PHO |
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iShares Russell 2000 Index Fund ETF
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IWM |
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iShares Russell 2000 Value Index Fund ETF
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IWN |
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iShares Dow Jones U.S. Telecommunications Sector Index Fund ETF
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IYZ |
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iShares MSCI Austria Index Fund ETF
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EWO |
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PowerRating)

iShares S&P 500/Barra Value Index Fund ETF
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IVE |
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iShares Dow Jones Transportation Average Index Fund ETF
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IYT |
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Oversold ETF of the Day – SPDR Hombuilders ETF – XHB

XHB

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