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Below we highlight the key ETFs that we follow that are currently trading the farthest above their 50-day moving averages. As shown, the Internet stock ETF (NYSE:HHH) is currently on top of the list at 10.31% above its 50-day. Malaysia (NYSEARCA:EWM) ranks second at 9.29%, followed by Base Metals (NYSEARCA:DBB), Australia (NYSEARCA:EWA), and then REITs (NYSEARCA:IYR). A lot of times we'll see ETFs from one asset class clustered at the top of the most overbought list, but it is currently pretty diverse.

Below is a chart of the Internet ETF (HHH) that is currently trading 10% above its 50-day. As shown, the ETF has made a huge move over the last four days. We also provide a table of the stocks that make up HHH. As shown, (NASDAQ:AMZN) and eBay (NASDAQ:EBAY) collectively make up about 60% of the ETF. Both have been soaring lately and are now trading more than two standard deviations above their 50-days. They're the reason HHH has done what it has done this week.

Source: Key ETFs Farthest Above 50-Day Moving Averages