Silver The Most Overbought Asset Class

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Includes: DBE, DBS, EWG, EWI, EWP, EZU, FEZ, IGN, OIL, PXE, SLV, XHB
by: Bespoke Investment Group

Below is a list of the key ETFs (from our daily ETF Trends report) that are currently trading the farthest above their 50-day moving averages. As shown, silver is the asset class that is currently the most overbought. Both SLV and DBS are nearly 10% above their 50-day moving averages.

And don't look now, but Spain (NYSEARCA:EWP) and Italy (NYSEARCA:EWI) are the 3rd and 5th farthest above their 50-days of the ETFs that we track. The Homebuilder+ ETF (NYSEARCA:XHB) ranks 4th at 8.19%.

In general, it's Europe and commodity ETFs that are currently the most overbought, which is the complete opposite of what we saw a couple months ago.

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