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.
TradingMarkets 7 ETFs You Need to Know for Friday
Semiconductors, as represented by exchange-traded funds like the Semiconductor HOLDRS ETF, SMH, joined the pullback in the broader technology sector on Thursday. Exchange-traded funds like the Technology Select Sector SPDRS ETF, XLK, noted in yesterday’s 7 ETFs You Need to Know, retreated deeper into oversold territory above the 200-day moving average.
TradingMarkets Most Overbought and Oversold ETFs for Thursday
This week’s most overbought and oversold ETFs for Thursday’s trading includes the Vanguard REIT ETF, VNQ.
TradingMarkets 7 ETFs You Need to Know for Thursday
Technology sector ETFs sold at the most aggressive levels during Wednesday’s trading. Among them the ProShares UltraShort Technology ETF, REW was a big gainer.
Overbought and Rising: How High Probability Traders Trade Runaway Markets
When markets become overbought and remain overbought, what should high probability traders do? David Penn says patience is key. Find out why.
TradingMarkets Most Overbought and Oversold ETFs for Wednesday
The following ETFs are the most overbought for Wednesday, January 6, 2010 and are due for a short term reversal. This analysis is based on research published in Larry Connor’s new book, High Probability ETF Trading, now available in paperback.
TradingMarkets Most Overbought and Oversold ETFs for Tuesday
The following ETFs are the most overbought for Tuesday, January 5, 2010 and are due for a short term reversal. This analysis is based on research published in Larry Connors’ new book, High Probability ETF Trading.
TradingMarkets 7 ETFs You Need to Know for Tuesday
With most markets moving higher on the first day of trading in 2010, short term oversold conditions have turned into short term overbought. The ProShares Ultra Materials ETF, UYM gained 6% on the day, making it the most aggressively bought materials ETF fund of the first trading day of 2010.