Most U.S. Sector ETFs Currently Overbought
As shown, most areas of the US markets are currently overbought, with REIT ETFs being the most extended. The DJIA tracking Diamonds (DIA) and the S&P 500 tracking SPDRs (SPY) are also above their normal trading ranges. On a side note, The Kirk Report wrote an interesting piece on leveraged ETFs offered by ProShares that is worth a read. ProShares now offers leveraged sector ETFs as well. Unfortunately, these ETFs have not been around long enough to run our overbought/oversold on them, but once they have, we'll be sure to include them.
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