We calculated the relative strength values of all ETFs that trade in the US and then sorted them by RSI-A. We use the average of all three time frame indicators as it is a closer approximation of the correct buy and sell signals.
These indicators provide a good idea of whether an ETF is oversold or overbought. Some of these values we found are very scary.
Top 20 Most Oversold ETFs:
Look at the monthly indicator for FAZ: 1.02. Now FAZ is a dreadful instrument that should be avoided at all costs. The 2nd most oversold: the equally dreadful UNG, another 'ETF Horribilis' to avoid all all costs.
This is tough investing.
The fact that many of these deeply oversold ETfs are leveraged speaks for itself.
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