TradingMarkets Most Overbought and Oversold ETFs for Tuesday

• By David Penn
• On 4:47 pm EDT, Monday October 26, 2009

Most Overbought

The following ETFs are the most overbought for Tuesday, October 27, 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.

DB Gold Double Short ETN (NYSE:DZZ - News)
SPDR Lehman 1-3 Month T-Bill ETF (NYSE:BIL - News)
ProShares UltraShort Oil & Gas ETF (NYSE:DUG - News)
PowerShares DB U.S. Dollar Index Bullish Fund (NYSE:UUP - News)
ProShares UltraShort Basic Materials ETF (NYSE:SMN - News)

ProShares UltraShort MSCI Emerging Markets ETF (NYSE:EEV - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)
ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares UltraShort S&P 500 ETF (NYSE:SDS - News)
ProShares Short Russell 2000 Index ETF (NYSE:RWM - News)

ProShares UltraShort Financial ETF (NYSE:SKF - News)
ProShares Short QQQ ETF (NYSE:PSQ - News)
ProShares Short Dow 30 Trust ETF (NYSE:DOG - News)
ProShares UltraShort Dow 30 Trust ETF (NYSE:DXD - News)
ProShares UltraShort QQQ Trust ETF (NYSE:QID - News)

Overbought ETF Chart of the Day - DB Gold Double Short ETN - DZZ

Most Oversold

The following ETFs are the most oversold for Tuesday, October 27, 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.

Market Vectors Gold Miners ETF (NYSE:GDX - News)
SPDR S&P Metals & Mining ETF (NYSE:XME - News)
iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund ETF (NYSE:IEO - News)
PowerShares Wilderhill Clean Energy Portfolio ETF (NYSE:PBW - News)
iPath MSCI India Index ETN (NYSE:INP - News)

iShares Dow Jones U.S. Transportation Average ETF (NYSE:IYT - News)
WisdomTree India Earnings Fund ETF (NYSE:EPI - News)
SPDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP - News)
iShares MSCI Mexico Index Fund ETF (NYSE:EWW - News)
iShares Goldman Sachs Natural Resources Index Fund ETF (NYSE:IGE - News)

iShares Nasdaq Biotechnology Index Fund ETF (NYSE:IBB - News)
iShares MSCI Austria Index Fund ETF (NYSE:EWO - News)
iShares S&P U.S. Preferred Stock Index Fund ETF (NYSE:PFF - News)
iShares Barclays TIPS Index Fund (NYSE:TIP - News)
Market Vectors Steel ETF (NYSE:SLX - News)

iShares MSCI Japan Index ETF (NYSE:EWJ - News)
Vanguard Total Bond Market Index Fund (NYSE:BND - News)
Energy Select Sector SPDRS ETF (NYSE:XLE - News)
iShares Barclays Aggregate Bond ETF (NYSE:AGG - News)
Consumer Staples Select Sector SPDRS ETF [NYSE:XLP|XLP]

iShares MSCI Canada Index Fund ETF (NYSE:EWC - News)
Utilities Select Sector SPDRS ETF (NYSE:XLU - News)
iShares COMEX Gold Trust ETF (NYSE:IAU.TO - News)
DB Gold Double Long ETN (NYSE:DGP - News)
SPDR Gold Trust (NYSE:GLD - News)

iShares MSCI Taiwain Index Fund ETF (NYSE:EWT - News)
Market Vectors Coal ETF (NYSE:KOL - News)

Oversold ETF of the Day - SPDR S&P Metals & Mining ETF - XME

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