This week’s most overbought and oversold ETFs for Friday’s trading includes a long list of select funds including the iShares S&P Latin America 40 Index ETF, ILF.
Although U.S. equity index ETFs gained on Thursday, a number of country-based exchange-traded funds continued to move deeper into oversold territory above the 200-day moving average. Among them was the iShares MSCI Brazil Index Fund ETF, EWZ.
Exchange-traded funds favored the overbought side of the line today as the market swung bullish following Tuesday’s sell-offs. Among the most oversold ETF funds to watch for Thursday’s trading, we highlight the iPath S&P Goldman Sachs Crude Oil Trust Index ETF, OIL.
Contrasting Tuesday’s aggressive selling action, buyers entered the market in force Wednesday pushing health care related ETFs like the Vanguard Health Care Fund, VHT, higher by trading day’s end.
This week’s most overbought and oversold ETFs for Wednesday’s trading includes a healthy list of ETFs on both sides of the market line. Among them is the PowerShares Commodity Index Tracking ETF, DBC.
Oversold conditions were sparked across the board by aggressive selling during Tuesday’s trading. The iShares Russell 2000 Index Fund ETF, IWM was among those particularly affected by the torrent of selling pressure, closing lower for the second consecutive day.
The following ETFs are the most overbought and oversold for Tuesday, January 12, 2010 and are due for a short term reversal.
Technology shares faced aggressive selling pressure during Monday’s trading, leaving XLK in oversold territory. See the rest of the ETFs that made our list for Tuesday’s trading.
Here’s the list of most overbought and oversold ETF funds to close the first week of the new year. The iShares Barclays 1-3 Year Treasury Bond Fund ETF, SHY made the list as the only overbought ETF of the bunch.
Selling pressure has moved from technology to the financials as exceptionally overbought ETFs like the ProShares Ultra Financials ETF, UYG pulled back by well over 1% to finish the week. By contrast, the ProShares Ultra Technology ETF, ROM fared much better.