Below we highlight the ETFs in our daily ETF Trends report that are currently trading the furthest above and below their 50-day moving averages. Five commodity ETFs top the list of the most overbought ETFs. DBA, DBC, UNG, DBO and DBE are all more than 7% above their 50-day moving averages. Other ETFs on the list of positive trending names include XME, OIL, USO, XOP, RSX and BBH. Two currency ETFs are also on the list -- the Mexican Peso (NYSEARCA:FXM) and the Australian Dollar (NYSEARCA:FXA).
Currently, 160 out of the 190+ ETFs that we follow closely are trading below their 50-day moving averages. The banking ETF (NYSEARCA:KBE) is the furthest below at -18%, followed by the regional banking ETF (NYSEARCA:RKH) at -15%. India (NYSEARCA:INP) and Belgium (NYSEARCA:EWK) trail the two bank ETFs, while Sweden (NYSEARCA:EWD), the Netherlands (NYSEARCA:EWN), South Africa (NYSEARCA:EZA), Italy (NYSEARCA:EWI), Spain (NYSEARCA:EWP), China (NYSEARCA:FXI) and France (NYSEARCA:EWQ) are other countries that are significantly oversold.
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