TradingMarkets Most Overbought and Oversold ETFs for Tuesday

Most Overbought

The following ETFs are the most overbought for Tuesday, July 7, 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 order.

ProShares UltraShort Basic Materials ETF
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SMN |
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ProShares UltraShort Oil & Gas ETF
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DUG |
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ProShares UltraShort QQQ ETF
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QID |
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iShares Barclays 1-3 Year Treasury Bond ETF
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SHY |
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ProShares UltraShort MidCap 400 ETF
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MZZ |
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ProShares UltraShort Russell 2000 ETF
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TWM |
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ProShares UltraShort Financials ETF
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SKF |
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ProShares UltraShort S&P 500 ETF
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SDS |
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DB Gold Double Short ETN
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DZZ |
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ProShares Short S&P 500 ETF
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SH |
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PowerShares DB U.S. Dollar Index Bullish ETF
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UUP |
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ProShares UltraShort MSCI Emerging Markets ETF
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EEV |
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Overbought ETF Chart of the Day – ProShares UltraShort S&P 500 ETF – SDS

SDS

Most Oversold

The following ETFs are the most oversold for Tuesday, July 7, 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 order.

SDPR S&P Metals & Mining ETF
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XME |
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Oil Services HOLDRS ETF
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OIH |
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iShares Dow Jones U.S. Basic Materials Index ETF
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IYM |
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Market Vectors Steel ETF
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SLX |
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PowerShares DB Oil Fund
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DBO |
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PowerShares Wilderhill Clean Energy Portfolio ETF
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PBW |
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PowerShares Golden Dragon Hatler USX China Portfolio ETF
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PGJ |
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PowerShares QQQ Trust ETF
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QQQQ |
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SPDR Barclays High Yield Corporate Bond ETF
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JNK |
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ProShares Ultra QQQ ETF
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QLD |
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iShares Dow Jones U.S. Oil Equipment & Services Index ETF
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IEZ |
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iShares iBoxx High Yield Corporate Bond ETF
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HYG |
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Materials Select Sector SPDRS ETF
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XLB |
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iShares Dow Jones U.S. Broker-Dealer Index ETF
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IAI |
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SPDR KBW Capital Markets ETF
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KCE |
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iShares MSCI Australia Index ETF
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EWA |
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iShares Dow Jones U.S. Telecommunications Sector Index ETF
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IYZ |
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iShares S&P MidCap 400/Barra Growth Index ETF
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IJK |
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iShares Russell MidCap Growth Index ETF
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IWP |
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Enbridge Energy Partners LP ETF
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EEP |
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Oversold ETF of the Day – SPDR Barclays High Yield Corporate Bond ETF – JNK

JNK

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..