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TradingMarkets Most Overbought and Oversold ETFs for Tuesday

By David Penn | TradingMarkets.com
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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 (SMN | Quote | Chart | News | PowerRating)
ProShares UltraShort Oil & Gas ETF (DUG | Quote | Chart | News | PowerRating)
ProShares UltraShort QQQ ETF (QID | Quote | Chart | News | PowerRating)
iShares Barclays 1-3 Year Treasury Bond ETF (SHY | Quote | Chart | News | PowerRating)
ProShares UltraShort MidCap 400 ETF (MZZ | Quote | Chart | News | PowerRating)
ProShares UltraShort Russell 2000 ETF (TWM | Quote | Chart | News | PowerRating)
ProShares UltraShort Financials ETF (SKF | Quote | Chart | News | PowerRating)
ProShares UltraShort S&P 500 ETF (SDS | Quote | Chart | News | PowerRating)
DB Gold Double Short ETN (DZZ | Quote | Chart | News | PowerRating)
ProShares Short S&P 500 ETF (SH | Quote | Chart | News | PowerRating)
PowerShares DB U.S. Dollar Index Bullish ETF (UUP | Quote | Chart | News | PowerRating)
ProShares UltraShort MSCI Emerging Markets ETF (EEV | Quote | Chart | News | PowerRating)

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

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..


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