TradingMarkets Most Overbought and Oversold ETFs for Monday

• By David Penn
• On 5:01 pm EDT, Friday October 23, 2009

Most Overbought

The following ETFs are the most overbought for Monday, October 26, 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 Oil & Gas ETF (NYSE:DUG - News)
ProShares UltraShort Basic Materials ETF (NYSE:SMN - News)
ProShares Short Russell 2000 Index ETF (NYSE:RWM - News)
ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
PowerShares DB U.S. Dollar Index Bullish Fund (NYSE:UUP - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)

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

Most Oversold

The following ETFs are the most oversold for Monday, October 26, 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 Dow Jones U.S. Transportation Average ETF (NYSE:IYT - News)
Market Vectors Gold Miners ETF (NYSE:GDX - News)
SPDR S&P Metals & Mining ETF (NYSE:XME - News)
iPath MSCI India Index ETN (NYSE:INP - News)
SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP - News)

iShares S&P U.S. Preferred Stock Index Fund ETF (NYSE:PFF - News)
iShares Nasdaq Biotechnology Index Fund ETF (NYSE:IBB - News)
WisdomTree India Earnings Fund ETF (NYSE:EPI - News)
PowerShares Wilderhill Clean Energy Portfolio ETF (NYSE:PBW - News)
iShares MSCI Japan Index ETF (NYSE:EWJ - News)

iShares MSCI Mexico Index Fund ETF (NYSE:EWW - News)
iShares Goldman Sachs Natural Resources Index Fund ETF (NYSE:IGE - News)
iShares MSCI Taiwain Index Fund ETF (NYSE:EWT - News)
Vanguard Total Bond Market Index Fund (NYSE:BND - News)
iShares Barclays TIPS Index Fund (NYSE:TIP - News)

Consumer Staples Select Sector SPDRS ETF (NYSE:XLP - News)
Utilities Select Sector SPDRS ETF (NYSE:XLU - News)
iShares MSCI South Korea Index Fund ETF (NYSE:EWY - News)
Energy Select Sector SPDRS ETF (NYSE:XLE - News)
Market Vectors Steel ETF (NYSE:SLX - News)

Pharmaceutical HOLDRS ETF (NYSE:PPH - News)
iShares Barclays Aggregate Bond ETF (NYSE:AGG - News)
ProShares Ultra Semiconductor ETF (NYSE:USD - News)
iShares S&P GSTI Semiconductor Index Fund ETF (NYSE:IGW - News)
iShares Dow Jones U.S. Oil Equipment & Services Index Fund ETF (NYSE:IEZ - News)

Oversold ETF of the Day - iShares Dow Jones U.S. Transportation Average ETF - IYT

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