Key ETFs Furthest Above and Below Their 50-Day Moving Averages

Each day in our ETF Trends report available to Bespoke Premium members, we provide overbought/oversold statistics for more than 200 ETFs.  Below we highlight the key ETFs that are currently trading the furthest above and below their 50-day moving averages.  When ETFs get significantly above their 50-days, the risk/reward tradeoff for bulls starts to lean towards the risk side. 

As shown, Energy and Energy stock ETFs currently dominate the overbought list.  The Oil&Gas Exploration ETF, XOP, is the furthest above its 50-day at 12.45%, followed closely by UNG at 12.28%.

On the oversold list, the Banking ETF (KBE) is at the top at -16.1%.  KBE is followed by the Regional Bank ETF (RKH), the India ETN (INP), and the Homebuilders ETF (XHB).  Other notables on the list include XLF, FXI and EEB.

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Comments

[User 212434:]

What is the point? Sell the overboughts? Buy the oversolds? What kind of historical record of buy/sell signals can you get from this info? Dave

2008 Jun 18 05:30 PM