From Ticker Sense
Below we have run the 50 most active ETFs through our overbought/oversold program (a key to reading the charts is included). The trading range for each ETF is one standard deviation above or below its 50-day moving average. An ETF (or stock, index, bond, etc.) becomes overbought when it trades more than one standard deviation above its 50-day moving average and vice versa for oversold.
ETFs highlighted in green are trading near or below the bottom of their trading range while those highlighted in red are overbought. The oversold area at the moment generally consists of Financials, REITS and Fixed Income products. Energy, Telecom, Materials, Utilities and Consumer Staples are overbought.
