Below is our trading range screen for the 30 largest country ETFs traded on US exchanges. For each ETF, the dot is where the ETF is currently trading within its range, while the tail end represents where it was trading one week ago. The black vertical “N” line represents each ETF’s 50-day moving average, and moves into the red or green zones are considered overbought or oversold.
As you can see, 25 of the 30 country ETFs shown are currently in overbought territory, and all 30 countries are above their 50-day moving averages. That’s some serious upside momentum.