Below is an updated look at our trading range screen for 30 of the largest country ETFs traded on US exchanges. So far in the third quarter (which is just 7 trading days old at this point), the average change of the 30 ETFs listed is +1.43%. Year-to-date, the average ETF is up 15.37%.
In the trading range section on the right side of the matrix, the black vertical “N” line represents each ETF’s 50-day moving average. The dot represents where each country is currently trading relative to its 50-day, while the tail end represents where it was trading one week ago. Last week at this time, a number of countries were trading below their 50-days, but many of them have rallied back to trade above their 50-days this week.
While no countries are trading in oversold territory at the moment, twelve of the thirty are now trading in overbought territory. Canada (EWC), India (INDA), Mexico (EWW), Sweden (EWD), and Taiwan (EWT) are at the most extreme overbought levels.
Year-to-date, Russia (RSX) is the only ETF in the screen that is in the red, while Turkey (TUR), South Korea (EWY), and Mexico (EWW) are up the most at 26%+.
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