We computed the relative strength of all global (country) ETFs. This provides a very good measure of what is overbought and oversold for a given timeframe.
Here they are:
Top 10 Most Oversold, Long Term:
The most oversold ETFs is FXP, the well-known ultra short China, followed by IXC, which represents the global energy sector. GULF, Middle East, continues to be high on the oversold list.
Top 10 Most Overbought, Long Term:
BRF is the relatively new Brazil small cap ETF, it continues to do very well as it is overbought on the monthly time frame. Next most overbought is IDX, Indonesia. Interestingly, the ETF that cover Israel, EIS, is in thrid position.
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