We used the RSI methodology to identify the top 50 ETFs to buy and sell out the universe of all ETFs traded in the U.S.
There were 776 ETFs on the list. Out of these, there are about 706 in which RSI data could be calculated.
Ther are currently exactly 50 oversold ETFs (identified as having RSI under 30). There are, on the other hand, 487 that are overbought (RSI over 70). That is a ratio of 9.74 to 1.
The average RSI7 is 70.51, which confirms overbought conditions. This is more so, as these ETFs include inverse ETFs.
Top 50 ETFs to buy, RSI7 shown:
(please click to enlarge)
Top ETFs to sell (RSI7 shown):
NEW! UPDATE: We have the results of this technique posted here.
Please note: For (free) trend technical analysis of any of these ETFs (powered by INO), please visit Technical Trend Analysis Tool
The complete list of overbought ETFs is too large to post here. Please click here for a PDF version.