Below we highlight the ETFs in our daily ETF Trends report that are currently trading the furthest above and below their 50-day moving averages. Five commodity ETFs top the list of the most overbought ETFs. DBA, DBC, UNG, DBO and DBE are all more than 7% above their 50-day moving averages. Other ETFs on the list of positive trending names include XME, OIL, USO, XOP, RSX and BBH. Two currency ETFs are also on the list -- the Mexican Peso (FXM) and the Australian Dollar (FXA).
Currently, 160 out of the 190+ ETFs that we follow closely are trading below their 50-day moving averages. The banking ETF (KBE) is the furthest below at -18%, followed by the regional banking ETF (RKH) at -15%. India (INP) and Belgium (EWK) trail the two bank ETFs, while Sweden, the Netherlands, South Africa, Italy, Spain, China and France are other countries that are significantly oversold.
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