FYI: Below is a look at our trading range screen for the 30 largest country ETFs traded on U.S. exchanges. For each country ETF, the dot represents where it is currently trading within its range. The tail end represents where it was trading exactly one week ago, and the black vertical “N” line represents each ETF’s 50-day moving average. When the ETF moves into the light red shading, it means it’s more than one standard deviation above its 50-day moving average — a level we call “overbought”. The dark red shading represents more extreme overbought levels — greater than two standard deviations above the 50-day moving average. (The vice versa is true for the green shading, which we call “oversold”.)
Regards,
Ted
https://www.bespokepremium.com/think-big-blog/from-very-overbought-to-just-overbought/
