Seeking Alpha
Registered investment advisor, macro, ETF investing
Profile| Send Message| ()  

Of the 200+ key ETFs that we track in our daily ETF trends report over at Bespoke Premium, the homebuilder ETF (XHB) remains as the most overbought. As shown in the table below, XHB is currently 13.22% above its 50-day moving average. Two other ETFs are more than 10% above their 50-days -- Building and Construction (PKB) and Banking (KBE). The clean energy ETF (PBW) ranks 4th at 8.82% above its 50-day, followed by Brazil (EWZ) at 8.18%.

24% of the ETFs that we track are currently more than 5% above their 50-days, which is a high reading. A few more days of gains for this market, and you'll start hearing lots of talk about how overbought we are.

Source: Homebuilder ETF Still Dominating