The Day After: U.S. Overbought/Oversold ETFs

Just like one blowup can damage years worth of work to build up positive reputation as in the recent case of JetBlue (JBLU), one big decline can damage months worth of market gains. After days like yesterday, it is good to review the trading ranges of various stocks, sectors and indices to see where they currently stand.

Below we provide overbought/oversold charts of US sectors and indices. As shown, many areas that were overbought just two days ago are now oversold. Utilities, materials, and fixed income are the only areas that are currently overbought.

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