Seeking Alpha
Registered investment advisor, macro, ETF investing
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Of the 200 or so key ETFs that we track on a daily basis in our ETF Trends report over at Bespoke Premium, 85% are currently below their 50-day moving averages. All of the ones that are above their 50-days are either gold, currency or fixed income ETFs. A whopping 18% are trading more than 15% below their 50-day moving averages. Below is a table showing these oversold ETFs.

As shown, the homebuilder ETF (XHB) is the most oversold at -20.14%. XHB is followed closely by steel (SLX), Germany (EWG), banking (KBE), clean energy (PBW), and Italy (EWI). It's likely that we'll look back at this list a few months from now and see at least a few ETFs that were screaming buys, but right now they're all pretty much like "catching a falling knife."

Source: Oversold ETFs