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SLX, KOL Two Very Oversold Hot Money Favorite ETFs

|Includes: KOL, VanEck Vectors Steel ETF (SLX)

SLX and KOL, two hot money favorite etfs, are now very oversold and could have nice little bounces, if/when the market manages a little rally.  The quality of such a bounce, especially in terms of volume and breadth, both in the market and such former hot money favorites, would be critical for an assessment of the market's health.  E.g. if these type of hot money etfs don't bounce much on a little market rally, given how oversold they currently are (e.g. Bollinger Bands and stochastics), then the cyclical strength of the market would be more suspect.

Left click on charts to enlarge.