As shown, most areas of the US markets are currently overbought, with REIT ETFs being the most extended. The DJIA tracking Diamonds (NYSEARCA:DIA) and the S&P 500 tracking SPDRs (NYSEARCA:SPY) are also above their normal trading ranges. On a side note, The Kirk Report wrote an interesting piece on leveraged ETFs offered by ProShares that is worth a read. ProShares now offers leveraged sector ETFs as well. Unfortunately, these ETFs have not been around long enough to run our overbought/oversold on them, but once they have, we'll be sure to include them.