Below we have taken the 30 country ETFs (from our Global ETF Cheat Sheet) that have the highest average 30-day volume and run them through our trading range screen so readers can get a good look at their recent momentum as well as where they stand relative to their 50-day moving averages. The ETFs are sorted from best to worst based on YTD percentage change.
As shown, Turkey (TUR) is up the most so far in 2012 with a gain of 34.69%, followed by the Phillipines (EPHE), Vietnam (VNM) and Singapore (EWS). Thailand (THD), Mexico (EWW), Columbia (GXG), Sweden (EWD), the US (SPY) and South Korea (EWY) round out the top ten.
Only 3 of the 30 most active country ETFs are in the red so far in 2012 -- Brazil (EWZ), Italy (EWI) and Spain (EWP).
Just 2 of the ETFs listed are currently below their 50-day moving averages -- Columbia (GXG) and Chile (ECH). Sweden (EWD) is the farthest above its 50-day of any ETF at +9.66%.
Relative to its trading range, South Korea (EWY) is currently the most overbought of the bunch, although Taiwan (EWT), Canada (EWC) and Brazil (EWZ) not far behind.
Overall, 24 of the 30 country ETFs listed are trading more than one standard deviation above their 50-days (overbought). But while the large majority are overbought, more than half have moved lower within their ranges over the last week, so we are seeing a stall in the positive momentum of late.
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