TradingMarkets Most Overbought and Oversold ETFs for Thursday

• By David Penn
• On 4:15 pm EDT, Wednesday October 28, 2009

Most Overbought

The following ETFs are the most overbought for Thursday, October 29, 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 Short QQQ ETF (NYSE:PSQ - News)
ProShares UltraShort MSCI Emerging Markets ETF (NYSE:EEV - News)
ProShares UltraShort QQQ Trust ETF (NYSE:QID - News)
ProShares UltraShort Basic Materials ETF (NYSE:SMN - News)
DB Gold Double Short ETN (NYSE:DZZ - News)

ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares Short Russell 2000 Index ETF (NYSE:RWM - News)
ProShares UltraShort FTSE/Xinhua China 25 ETF (NYSE:FXP - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)
ProShares UltraShort S&P 500 ETF (NYSE:SDS - News)

PowerShares DB U.S. Dollar Index Bullish Fund (NYSE:UUP - News)
ProShares UltraShort Real Estate ETF (NYSE:SRS - News)
ProShares UltraShort Financial ETF (NYSE:SKF - News)
ProShares UltraShort Dow 30 Trust ETF (NYSE:DXD - News)
ProShares Short Dow 30 Trust ETF (NYSE:DOG - News)

ProShares UltraShort Oil & Gas ETF (NYSE:DIG - News)
iShares Barclays 7-10 Year Treasury Bond Fund ETF (NYSE:IEF - News)
iShares Barclays 20+ Year Treasury Bond Fund ETF (NYSE:TLT - News)

Overbought ETF Chart of the Day - ProShares UltraShort MSCI Emerging Markets ETF - EEV

Most Oversold

The following ETFs are the most oversold for Thursday, October 29, 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.

Market Vectors Gold Miners ETF (NYSE:GDX - News)
iShares S&P U.S. Preferred Stock Index Fund ETF (NYSE:PFF - News)
SPDR S&P Metals & Mining ETF (NYSE:XME - News)
PowerShares Wilderhill Clean Energy Portfolio ETF (NYSE:PBW - News)
iPath MSCI India Index ETN (NYSE:INP - News)

iShares MSCI Mexico Index Fund ETF (NYSE:EWW - News)
iShares Dow Jones U.S. Transportation Average ETF (NYSE:IYT - News)
iShares MSCI Austria Index Fund ETF (NYSE:EWO - News)
WisdomTree India Earnings Fund ETF (NYSE:EPI - News)
Market Vectors Steel ETF (NYSE:SLX - News)

iShares MSCI Taiwan Index Fund ETF (NYSE:EWT - News)
Market Vectors Coal ETF (NYSE:KOL - News)
iShares Nasdaq Biotechnology Index Fund ETF (NYSE:IBB - News)
iShares Goldman Sachs Natural Resources Index Fund ETF (NYSE:IGE - News)
Claymore BNY BRIC ETF (NYSE:EEB - News)

PowerShares QQQ Trust ETF (NYSE:QQQQ - News)
Market Vectors Russia ETF (NYSE:RSX - News)
iShares MSCI Canada Index Fund ETF (NYSE:EWC - News)
ProShares Ultra QQQ Trust ETF [QLD|QLD]
iShares MSCI Emerging Markets Index Fund ETF (NYSE:EEM - News)
Vanguard Emerging Markets ETF (NYSE:VWO - News)

iShares MSCI Singapore Index Fund ETF (NYSE:EWS - News)
Market Vectors Agribusiness ETF (NYSE:MOO - News)
iShares MSCI Pacific ex-Japan Index Fund ETF (NYSE:EPP - News)
iShares MSCI Brazil Index Fund ETF (NYSE:EWZ - News)
iShares Dow Jones U.S. Basic Materials Index Fund ETF (NYSE:IYM - News)

iShares S&P Latin America 40 Index Fund ETF (NYSE:ILF - News)
iShares MSCI Japan Index ETF (NYSE:EWJ - News)
iShares Dow Jones U.S. Oil Equipment and Services Index Fund ETF (NYSE:IEZ - News)
Vanguard Mid Cap ETF (NYSE:VO - News)
Rydex CurrencyShares Australian Dollar Trust ETF (NYSE:FXA.TO - News)

Oversold ETF of the Day - Market Vectors Gold Miners ETF - GLD

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