Of the 200+ ETFs that we track in our daily ETF Trends report, only 7 are currently trading above their 50-day moving averages, and they're all currency or fixed income related. About 60% of the ETFs are trading more than 25% below their 50-days. The steel ETF (SLX) is trading the furthest below at a whopping -52%, followed by metals and mining (XME) and Brazil (EWZ). It has now been a long time since many of these securities have even sniffed an uptrend, and unfortunately with how oversold they are, it's still going to take a long time as well.
