TradingMarkets Most Overbought and Oversold ETFs for Thursday

• By David Penn
• On 6:33 pm EDT, Wednesday September 2, 2009

Most Overbought

The following ETFs are the most overbought for Thursday, September 3, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors' new book, High Probability ETF Trading.

ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares UltraShort Oil & Gas ETF (NYSE:DUG - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)
ProShares UltraShort S&P 500 ETF (NYSE:SDS - News)
ProShares Short Dow 30 ETF (NYSE:DOG - News)

ProShares UltraShort Dow 30 ETF (NYSE:DXD - News)
ProShares UltraShort QQQ ETF (NYSE:QID - News)
ProShares UltraShort MidCap 400 ETF (NYSE:MZZ - News)
ProShares UltraShort Financials ETF (NYSE:SKF - News)
ProShares UltraShort Real Estate ETF (NYSE:SRS - News)

iShares Barclays 7-10 Year Treasury Bond ETF (NYSE:IEF - News)
iShares Barclays 1-3 Year Treasury Bond ETF (NYSE:SHY - News)
iShares Barclays 20+ Year Treasury Bond ETF (NYSE:TLT - News)

Overbought ETF Chart of the Day - ProShares UltraShort Oil & Gas ETF - DUG

Most Oversold

The following ETFs are the most oversold for Thursday, September 3, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors' new book, High Probaility ETF Trading.

iShares MSCI Hong Kong Index ETF (NYSE:EWH - News)
Market Vectors Coal ETF (NYSE:KOL - News)
Utilities Select Sector SPDRS ETF (NYSE:XLU - News)
PowerShares Water Resource Portfolio ETF (NYSE:PHO - News)
iShares Russell 2000 Value Index Fund ETF (NYSE:IWN - News)

iShares Russell 3000 Index Fund ETF (NYSE:IWV - News)
iShares Dow Jones Select Dividend Index Fund ETF (NYSE:DVY - News)
iShares S&P SmallCap 600 Index ETF (NYSE:IJR - News)
iShares Russell 2000 Index Fund ETF (NYSE:IWM - News)
Oil Service HOLDRS ETF (NYSE:OIH - News)

ProShares Ultra Russell 2000 ETF (NYSE:UWM - News)
iShares Russell 2000 Growth Index ETF (NYSE:IWO - News)
Vanguard Value ETF (NYSE:VTV - News)
SPDRs S&P 500 Trust Series ETF (NYSE:SPY - News)
iShares S&P U.S. Preferred Stock Index Fund ETF (NYSE:PFF - News)

iShares Russell 1000 Value Index Fund ETF (NYSE:IWD - News)
Vanguard Large Cap ETF (NYSE:VV - News)
iShares Russell 1000 Index Fund ETF (NYSE:IWB - News)
ProShares UltraShort S&P 500 ETF (NYSE:SSO.TO - News)
Energy Select Sector SPDRS ETF (NYSE:XLE - News)

PowerShares Golden Dragon Halter USX China Portfolio ETF (NYSE:PGJ - News)
iShares S&P Latin America 40 Index Fund ETF (NYSE:ILF - News)
Claymore Bny BRIC ETF (NYSE:EEB - News)
iShares Dow Jones U.S. Energy Sector Index Fund ETF (NYSE:IYE - News)
iShares S&P 500 Index Fund ETF (NYSE:IVV - News)

ProShares Ultra Oil & Gas ETF (NYSE:DIG - News)
iShares S&P 500/Barra Value Index Fund ETF (NYSE:IVE - News)
Vanguard Total Stock Market ETF (NYSE:VTI - News)

Oversold ETF of the Day - Utilities Select Sector SPDRS ETF - XLU

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