The recent market sell-off has the S&P 500 only down one percent from an all-time high.
However, many of the top sectors have entered into selling mode as investors look to book profits and sell near highs.
This wave of selling has led to a number of the best performing ETFs last year falling to levels that puts them in extreme oversold territory.
There are a number of methods of calculating if a stock or ETF is oversold, for this article the 9-day relative strength index (RSI) will be used. All three ETFs have recently hit new highs before the selling began and the oversold readings may signal a short-term bottom in the near future.
The Market Vectors Gaming ETF (NYSE: BJK) was up 51 percent in 2013 and rallied to a new high in early March before selling off 10 percent in the last few weeks. The RSI reading has fallen to 20 after six consecutive down sessions. The positive ...
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