Most Overbought and Oversold Non-Leveraged ETFs

We recently searched all of the ETFs that we follow in our daily ETF Trends report and found the ones currently trading the furthest above and below their 50-day moving averages. As shown below, many ETFs across all asset classes are trading well above their normal trading ranges.

The private equity ETF (highlighted yesterday) is the furthest above its 50-day at 36.86%. The metals & mining ETF (XME) ranks second at +34.44%, followed by steel (SLX), financial preferreds (PGF), regional banks (RKH), and the homebuilders (XHB). All of the ETFs listed above were hit the hardest during the downturn and they are recovering nicely, albeit off of very low bases.

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Below we highlight the 16 ETFs out of the 200 or so that we track that are trading below their 50-day moving averages. Natural Gas is the furthest below its 50-day, as it cements its status as the worst commodity on the planet these days. The list is primarily made up of fixed income and commodity ETFs that have sold off as equities have rallied.