Investors are looking to ride the momentum train into the end of the year and hop on some of the best-performing ETFs in the market. At the same time, investors that own shares of the same ETFs are getting concerned that a pullback may be right around the corner.
The Market Vectors Semiconductor ETF (NYSE: SMH), the iShares Cohen & Steers Realty Maj. (ETF) (NYSE: ICF) and the iShares NASDAQ Biotechnology Index (ETF) (NASDAQ: IBB) have all had a great year and are currently in the midst of their strongest rally during the last 12 months.
The ETFs are up an average of 16 percent since October 15, around the time the overall market bottomed.
The three ETFs have similar charts that include rallies followed by healthy pullbacks, the definition of a strong uptrend pattern. Heading into the first week of December, all three were trading with RSI readings at extreme overbought levels.
Historically, a ...
/www.benzinga.com/etfs/sector-etfs/14/12/5047151/a-look-at-3-overbought-etfs alt=A Look At 3 Overbought ETFs>Full story available on Benzinga.com
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