Of the 200 or so key ETFs across all asset classes that we track in our daily ETF Trends report, 95% are currently trading above their 50-day moving averages. That's about as high as the reading has gotten over the past few years. And the majority of the 10 ETFs that are trading below their 50-days are fixed income ETFs. It has been a good few months for risky assets.
Below is a list of the ETFs from our report that are trading the farthest above their 50-days. As shown, Spain (EWP) and Italy (EWI) rank #1 and #2, and both countries are trading more than 15% above their 50-days. On July 23rd, Spain was the most oversold ETF, while Italy was the fourth most oversold! Two silver products (DBS and SLV) rank 3rd and 4th, followed up by Europe (FEZ) in 5th.
(click to enlarge)
The US Dollar (UUP) is actually the farthest below its 50-day at -3.21%. The 20+ year Treasury ETF (TLT) is the second farthest below at -3.19%. Just a few months ago, the Dollar and Treasuries were the only asset classes going up. Now they're the only ones going down.
(click to enlarge)
