Most Overbought

The following ETFs are the most overbought for Friday, January 15, 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.

ProShares UltraShort FTSE/Xinhua China 25 (FXP)
ProShares UltraShort MSCI Emerging Markets (EEV)
iShares Barclays 1-3Yr Treasury Bond Fund (SHY)
iShares Barclays 7-10Yr Treasury Bond Fund (IEF)
iShares Barclays 20+Yr Treasury Bond Fund (TLT)
ProShares UltraShort Basic Materials (SMN)

Overbought ETF of the Day - ProShares UltraShort MSCI Emerging Markets ETF - EEV

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Most Oversold

The following ETFs are the most oversold for Friday, January 15, 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.

iShares MSCI Brazil Index Fund (EWZ)
iShares MSCI Hong Kong Index Fund (EWH)
iPath S&P GSCI Crude Oil Total Return Index ETN (OIL)
iShares FTSE/Xinhua China 25 Index Fund (FXI)
PowerShares Wilder Clean Energy Portfolio (PBW)

United States Oil Fund (USO)
Claymore/BNY BRIC ETF (EEB)
iShares S&P GSCI Commodity-Indexed Trust (GSG)
PowerShares DB Commodity Index Tracking Fund (DBC)
iShares S&P Latin American 40 Index Fund (ILF)

iShares Dow Jones U.S. Telecommunications Sector Index Fund (IYZ)
ELEMENTS Rogers International Commodity Index Total Return (RJI)
ELEMENTS Rogers International Commodity Index Agriculture Total Return (RJA)
iShares MSCI Emerging Markets Index Fund (EEM)

Oversold ETF of the Day -iShares MSCI Brazil Index Fund ETF - EWZ

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