TradingMarkets Most Overbought and Oversold ETFs for Wednesday

• By David Penn
• On 4:53 pm EDT, Tuesday September 1, 2009

Most Overbought

The following ETFs are the most overbought for Wednesday, September 2, 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 FTSE/Xinhua China 25 ETF (NYSE:FXP - News)
ProShares UltraShort MSCI Emerging Markets ETF (NYSE:EEV - News)
ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares Short S&P 500 ETF (NYSE:SH - News)
ProShares UltraShort Oil & Gas ETF (NYSE:DUG - News)

ProShares UltraShort S&P 500 ETF (NYSE:SDS - News)
ProShares UltraShort QQQ ETF (NYSE:QID - News)
ProShares Short Dow 30 ETF (NYSE:DOG - News)
ProShares UltraShort Dow 30 ETF (NYSE:DXD - News)
ProShares UltraShort MidCap 400 ETF (NYSE:MZZ - News)

ProShares UltraShort Financials ETF (NYSE:SKF - News)
ProShares UltraShort Basic Materials ETF (NYSE:SMN - News)
ProShares UltraShort Real Estate ETF (NYSE:SRS - News)
PowerShares DB U.S. Dollar Index Bullish Fund (NYSE:UUP - News)
iShares Barclays 7-10 Year Treasury Bond ETF (NYSE:IEF - News)

SPDR Gold Shares ETF (NYSE:GLD - News)
iShares MSCI Taiwan Index ETF (NYSE:EWT - News)

Overbought ETF Chart of the Day - ProShares UltraShort Russell 2000 ETF - TWM

Most Oversold

The following ETFs are the most oversold for Wednesday, September 2, 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)
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)
Market Vectors Coal ETF (NYSE:KOL - News)

iShares MSCI Brazil Index ETF (NYSE:EWZ - News)
iShares MSCI Emerging Markets Index ETF (NYSE:EEM - News)
Vanguard Emerging Markets ETF (NYSE:VWO - News)
iShares FTSE/Xinhua China 25 ETF (NYSE:FXI - News)
Health Care Select Sector SPDRS ETF (NYSE:XLV - News)

iShares Russell 3000 Index Fund ETF (NYSE:IWV - News)
iShares Russell 2000 Growth Index Fund ETF (NYSE:IWO - News)
iShares S&P SmallCap 600 Index ETF (NYSE:IJR - News)
iShares Russell 2000 Value Index Fund ETF (NYSE:IWN - News)
iShares Dow Jones Select Dividend Index Fund ETF (NYSE:DVY - News)

ProShares Ultra Russell 2000 ETF (NYSE:UWM - News)
iShares Russell 2000 Index Fund ETF (NYSE:IWM - News)
PowerShares Water Resource Portfolio ETF (NYSE:PHO - News)
Utilities Select Sector SPDRS ETF (NYSE:XLU - News)
iShares S&P SmallCap 600/Barra Value Index Fund ETF (NYSE:IJS - News)

iShares S&P U.S. Preferred Stock Index Fund ETF (NYSE:PFF - News)
SPDRs S&P 500 Trust Series ETF (NYSE:SPY - News)
iShares S&P 500/Barra Growth Index Fund ETF (NYSE:IVW.TO - News)
Vanguard Value ETF (NYSE:VTV - 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)
iShares Russell 1000 Value Index Fund ETF (NYSE:IWD - News)

Oversold ETF of the Day - iShares MSCI Brazil Index ETF - EWZ

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