TradingMarkets Most Overbought and Oversold ETFs for Tuesday

Most Overbought

The following ETFs are the most overbought for Tuesday, April 14, 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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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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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 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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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 Materials ETF
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UYM |
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Barclays Capital High Yield Bond SPDRS
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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 – Materials Select Sector SPDRS ETF – XLB

XLB Chart

* note: XLB is trading below its 200-day moving average (not shown)

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

Most Oversold

The following ETFs are the most oversold for Tuesday, April 14, 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.

ProShares Short Dow 30 ETF
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DOG |
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PowerRating)

Oversold ETF Chart of the Day – ProShares Short Dow 30 ETF
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DOG |
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PowerRating)

DOG Chart

* note: DOG is trading above its 200-day moving average (not shown)

Read more about how overbought and oversold ETFs can be quantified. High Probability ETF Trading is a new book that gives investors and traders quantified strategies that have up to a 90% accuracy rate — Click here to learn more.

David Penn is Editor in Chief at TradingMarkets.com.