PowerShares has an ETF (ticker: PSP) that tracks private equity companies that are publicly traded. It's not news to anyone that private equity has been hit extremely hard throughout the financial crisis, and from its peak to trough over the last two years, PSP went down 87%. Since March 9th, however, PSP is up exactly 100%. It's also the ETF in our ETF Trends report that is currently the furthest above its 50-day moving average (DMA). As shown in the 50-DMA spread chart in the second chart below, this is by far the most overbought the ETF has been in its short history. While PSP has doubled in a matter of months, it still needs to gain 287% if it wants to get back to its all-time highs seen in June 2007.