US equity markets have been on a pretty epic run over the past few weeks, but today the major indices are finally pulling back a bit.  We’re seeing mean reversion in international equity markets as well.  You can see the pullback in our Country Trading Range Screen below.  The screen highlights where each of the 30 largest country ETFs (traded on US exchanges) are trading relative to their 50-day moving averages (the black vertical “N” line in the screen).  The dot represents where each ETF is currently trading relative to its range, while the tail end shows where it was trading a week ago.  A red dot means the ETF is down within its range over the last week, and vice versa for a green dot.

As you can see, there are only three green dots versus twenty-seven red dots, so we’ve pretty much seen across-the-board mean reversion for global equities over the last week.  There were twenty countries that were trading in overbought (OB) territory last week at this time, but now there are only nine.  And there are now seven countries in oversold territory versus just one last week.

Countries like Australia (EWA), Brazil (EWZ), Colombia (GXG), Hong Kong (EWH), the Philippines (EPHE), South Africa (EZA), and Switzerland (EWL) all broke below their 50-days over the last week.

For traders with a short-term time horizon who are looking for big moves over a short period, we have updated our list of the S&P 1500 stocks trading above $10 that have the largest intraday high-low ranges (based on the average percent spread between the intraday high and low over the last 50 days). The stocks are grouped based on whether they have a rising or falling 50-day moving average (DMA). Stocks highlighted in gray are new to the list this month.

With overall market volatility near record lows, it shouldn’t come as a surprise that there is not a whole lot of major volatility in individual stocks.  As shown in the table below, just ten stocks in the S&P 1500 have an average daily intraday move of over 5%.  Neck and neck in the lead for the title of most volatile stock are shares of MiMedx (MDXG) and Finish Line (FINL), which are both in short-term downtrends and have seen average daily moves of 6.4%.  The only other stock in the S&P 1500 that has seen an average intraday move of 6% is Impax Labs (IPXL).  While all three of the stocks mentioned have relatively low share prices, the highest priced stock on the list is RH (formerly Restoration Hardware).  With a price of around $86 per share, the stock sees an average daily intraday move of nearly $4 each day.

In terms of sector representation, Health Care is the most heavily represented with twelve stocks and Consumer Discretionary is right on its heels with eleven.  The only sector not represented is Utilities, but that shouldn’t be a surprise given the sector’s traditionally stable investor base.