Below is a look at our trading range screen for the 30 largest country ETFs traded on US exchanges. For each ETF, the black vertical "N" line represents its 50-day moving average (50-DMA). The dot represents where it is currently trading, while the tail end represents where it was trading one week ago. Moves into the red shading are considered "overbought" (read more at the bottom of the screen), while moves into the green zone are considered "oversold". We also provide how each country has performed on a year-to-date basis, as well as where it currently stands relative to its 50-DMA.
The majority of countries have seen their stock markets trade in neutral territory over the last couple of weeks with relatively low volatility (short tails). Last week at this time, five countries were oversold, while three were overbought. As of today, six countries are oversold (all just barely), while there's only one that is overbought.
The one country that is overbought right now is the US (SPY). As you can see in the screen, it's currently more extended versus its 50-day moving average than any other country ETF highlighted. Japan (EWJ) was more overbought last week, but it has pulled back significantly over the last five trading days and is now just a hair above its 50-day.
In terms of year-to-date performance, India (PIN) is up the most at +27.19%, followed by the Phillipines (EPHE) at +20.89% and Thailand (THD) at +19.34%. The US has been one of the better performing countries on the list at +10% YTD. On the downside, Russia (RSX) is off the most at -26.6%, while France (EWQ) and Germany (EWG) are both down 10%+ as well.