TradingMarkets Most Overbought and Oversold ETFs for Wednesday

  • October 20, 2009
  • David Penn

Most Overbought

The following ETFs are the most overbought for Wednesday, October 21, 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.

United States Natural Gas Fund
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UNG |
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iShares Barclays 20+ Year Treasury Bond Fund ETF
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TLT |
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iShares Barclays Short Treasury Bond ETF
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SHV |
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iShares Barclays 7-10 Year Treasury Bond Fund ETF
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IEF |
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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 UltraShort Financials ETF
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SKF |
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Overbought ETF Chart of the Day – iShares Barclays 20+ Year Treasury Bond Fund ETF – TLT

TLT

Most Oversold

The following ETFs are the most oversold for Wednesday, October 21, 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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iShares Dow Jones U.S. Home Construction Index Fund ETF
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ITB |
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iShares Nasdaq Biotechnology Index Fund ETF
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IBB |
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SPDR Homebuilders ETF
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XHB |
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SPDR KBW Regional banking ETF
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KRE |
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Market Vectors Gold Miners ETF
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GDX |
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iShares MSCI Brazil Index Fund ETF
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EWZ |
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iShares Dow Jones U.S. Financial Services Index Fund ETF
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IYG |
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Regional Bank HOLDRS ETF
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RKH |
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SPDR KBW Insurance ETF
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KIE |
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iShares Dow Jones U.S. Telecommunications Sector Index Fund ETF
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IYZ |
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ProShares Ultra Financials ETF
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UYG |
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iShares S&P Latin America 40 Index Fund ETF
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ILF |
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ProShares Ultra Russell 2000 ETF
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UWM |
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iShares MSCI Canada Index Fund ETF
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EWC |
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iShares Russell 2000 Index Fund ETF
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IWM |
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Oversold ETF of the Day – iShares Dow Jones U.S. Home Construction Index Fund ETF – ITB

ITB

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