Scott's Investments'  Instablog

Below is a list of ETFs currently considered 'overbought' using data from Finviz.com. In this case overbought is defined as having an RSI (14) of over 80.  Stocks and ETFs can remain overbought for extended periods of time and one can use multiple ways to define 'overbought'.  However, RSI serves as a good first indicator.  The theme from the list below is that preferred issues may be due for a pullback after a nice runup since March 6th (many of which have more then doubled since the 3/6 lows):

Ticker	Company	200-Day SMA	RSI (14)	Price	Trend
EWA	iShares MSCI Australia Index	41.44%	81.32	20.11	Click here
IYC	iShares Dow Jones US Consumer Services	18.77%	81.89	49.36	Click here
IYT	iShares Dow Jones Transportation Average	20.15%	81.3	67.51	Click here
PDP	PowerShares DWA Technical Leaders	19.93%	82.33	16.65	Click here
PFF	iShares S&P U.S. Preferred Stock Index	36.10%	81.79	36.12	Click here
PGF	PowerShares Financial Preferred	41.30%	80.7	16.5	Click here
PGX	PowerShares Preferred	23.49%	86.28	13.42	Click here
PRF	PowerShares FTSE RAFI US 1000	30.82%	80.95	44.05	Click here

Data Source: FINVIZ
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