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ETFs To Watch Sample

ETFs to Watch – January 20, 2020

ETFs to Watch report focuses on quantitative analysis of 34 popular ETFs. This report is for week of January 20, 2020. If you are not a subscriber click here for more information.

Specific disclaimer: This report includes charts that may reference direction and price target levels determined by technical and/or quantitative analysis. No updates to charts will be provided if conditions change in ways that affect price direction and targets. This analysis is for informational purposes. See full disclaimer for more information.

Overbought/oversold definitions

-Overbought conditions occur in daily timeframe when RSI(14) indicator is greater than 70 and oversold when the indicator is less than 30. Length of overbought/oversold conditions in days is also shown.
-Overbought conditions occur in weekly timeframe when PAL OB/OS indicator is greater than 90 and oversold when the indicator is less than 10. Length of overbought/oversold conditions in weeks is also shown. 

Daily timeframe

There are 13 overbought and one oversold ETFs in the daily timeframe.

Most overbought: QQQ for 10 days, TAN for 9 days and XLK for 8 days. Oversold: UNG.


Last time there were extended overbought conditions in TAN of more than 8 days, as may be seen in above chart, they were followed by corrections.

Weekly timeframe

There are 8 overbought and one oversold ETFs in the weekly timeframe.

Most overbought: SPHB, TAN, SMH, all for 6 weeks. Oversold: XME


SMH is due for a short-term correction in the next two weeks probably

Disclaimer:  No part of the analysis in this blog constitutes a trade recommendation. The past performance of any trading system or methodology is not necessarily indicative of future results. Read the full disclaimer here.

Charting program: Amibroker

Data provider: Norgate Data

Copyright notice: Any unauthorized copy, reproduction, distribution, publication, display, modification, or transmission of any part of this report is strictly prohibited without prior written permission.

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