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TradingMarkets Most Overbought and Oversold ETFs for Friday

By David Penn | TradingMarkets.com
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Most Overbought

The following ETFs are the most overbought for Friday, May 29, 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.

PowerShares DB Crude Oil ETF (DBO | Quote | Chart | News | PowerRating)
United States Oil Fund ETF (USO | Quote | Chart | News | PowerRating)
ProShares Ultra QQQ ETF (QLD | Quote | Chart | News | PowerRating)

ProShares Ultra Basic Materials ETF (UYM | Quote | Chart | News | PowerRating)
Utilities Select Sector SPDRS ETF (XLU | Quote | Chart | News | PowerRating)
Regional Bank HOLDRS (RKH | Quote | Chart | News | PowerRating)

Overbought ETF Chart of the Day - ProShares Ultra QQQ ETF - QLD

QLD

Most Oversold

The following ETFs are the most oversold for Friday, May 29, 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.

iShares Barclays Aggregate Bond Index ETF (AGG | Quote | Chart | News | PowerRating)
iShares Barclays TIPS Bond Index ETF (TIP | Quote | Chart | News | PowerRating)
CurrencyShares Japanese Yen Trust ETF (FXY | Quote | Chart | News | PowerRating)

PowerShares DB Crude Oil Short ETN (SZO | Quote | Chart | News | PowerRating)
Consumer Discretionary Select Sector SPDRS ETF (XLY | Quote | Chart | News | PowerRating)
iShares MSCI Japan Index ETF (EWJ | Quote | Chart | News | PowerRating)

Oversold ETF Chart of the Day - iShares MSCI Japan Index ETF - EWJ

EWJ

In High Probability ETF Trading you can learn strategies to enhance your ETF trading. Trading overbought and oversold markets is just one quantifiable strategy for trading ETFs – click here to learn more.

Want updates on our latest articles? Have something to say to David Penn or the staff at TradingMarkets? Follow David on Twitter at @Penn_TM and TradingMarkets at @Trading_Markets.


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