Below we highlight non country specific international ETFs. These represent regions around the world and include emerging markets as well.
In the table we provide the 5-day percent change of the ETF, the percent the ETF is trading from its 50-day moving average, and how overbought or oversold the ETF might be. (An ETF is overbought or oversold if it is trading more than 1 standard deviation above its 50-day moving average.)
As shown, emerging markets ETFs have rallied the most recently and are also the most overbought at the moment. The Claymore BRIC ETF - EEB - is currently 10.62% above its 50-day moving average and overbought by 4.14%. This ETF definitely has momentum on its side, but at these levels the risk might outweigh the reward in the near term.
None of the ETFs listed below are currently oversold, and all of them are trading above their 50-days. The Vanguard Pacific ETF - VPL - is currently trading the closest to its 50-day.