Most Overbought ETFs

Investors who expect a market pullback and want to find potential short candidates could start with a list of the most overbought ETFs at the moment. Below is a list of key ETFs that are trading the furthest above their 50-day moving averages. As shown, the insurance ETF (KIE) is the furthest above its 50-day at 17.89%, followed by banking (KBE), Austria (EWO), homebuilders (XHB), and real estate (IYR). The majority of the most overbought ETFs are from the financial sector, and other countries that are overbought include Sweden (EWD), Australia (EWA), Belgium (EWK), the Netherlands (EWN), France (EWQ), Italy (EWI), Spain (EWP), and Europe as a whole.

Comments

[Gary Gallo:]

20 Day MA has been good support in this rally. If the 20 Day moving averages break this would be something new and I believe would lead to a retreat to the 50 day.

Aug 31 05:23 PM

[jse17:]

And the nexus between various days’ moving average, the current price, and the issues’ underlying fundamentals is?

Sep 06 07:14 PM

[User 80073:]

Most overbought?-- Because they are above their moving average?-- Isn't that the usual reason to flash a buy signal...

What am I missing here?

Sep 08 10:28 AM