Most Overbought
The following ETFs are the most overbought for Thursday, October 22, 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 Financials ETF (NYSE:SKF - News)
ProShares Short Russell 2000 ETF (NYSE:RWM - News)
ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)
ProShares UltraShort S&P 500 ETF (NYSE:SDS - News)
ProShares UltraShort Dow 30 ETF (NYSE:DXD - News)
ProShares Short Dow 30 ETF (NYSE:DOG - News)
ProShares UltraShort Real Estate ETF (NYSE:SRS - News)
ProShares UltraShort Basic Materials ETF (NYSE:SMN - News)
Overbought ETF Chart of the Day - ProShares UltraShort Financials ETF - SKF

Most Oversold
The following ETFs are the most oversold for Thursday, October 22, 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.
PowerShares Financial Preferred Portfolio (NYSE:PGF - News)
SPDR KBW Regional banking ETF (NYSE:KRE - News)
SPDR Homebuilders ETF (NYSE:XHB - News)
KBW Bank ETF (NYSE:KBE - News)
iShares Dow Jones U.S. Home Construction Index Fund ETF (NYSE:ITB - News)
Regional Bank HOLDRS ETF (NYSE:RKH - News)
iShares Dow Jones U.S. Financial Services Index Fund ETF (NYSE:IYG - News)
iShares Nasdaq Biotechnology Index Fund ETF (NYSE:IBB - News)
Pharmaceutical HOLDRS ETF (NYSE:PPH - News)
Financial Select Sector SPDRS ETF (NYSE:XLF - News)
iShares Dow Jones U.S. Financial Sector Index Fund ETF (NYSE:IYF - News)
ProShares Ultra Financials ETF (NYSE:UYG - News)
SPDR KBW Insurance ETF (NYSE:KIE - News)
Vanguard Small Cap Growth ETF (NYSE:VBK - News)
Retail HOLDRS ETF (NYSE:RTH - News)
ProShares Ultra Russell 2000 ETF (NYSE:UWM - News)
Market Vectors Gold Miners ETF (NYSE:GDX - News)
iShares Russell 2000 Growth Index Fund ETF (NYSE:IWO - News)
PowerShares Water Resource Portfolio ETF (NYSE:PHO - News)
iShares Russell 2000 Index Fund ETF (NYSE:IWM - News)
iShares Russell 2000 Value Index Fund ETF (NYSE:IWN - News)
iShares Dow Jones U.S. Telecommunications Sector Index Fund ETF (NYSE:IYZ - News)
iShares MSCI Austria Index Fund ETF (NYSE:EWO - News)
iShares S&P 500/Barra Value Index Fund ETF (NYSE:IVE - News)
iShares Dow Jones Transportation Average Index Fund ETF (NYSE:IYT - News)
Oversold ETF of the Day - SPDR Hombuilders ETF - XHB

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