The following ETFs are the most overbought for Friday, November 13, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors' new book, High Probability ETF Trading.

ProShares UltraShort Oil & Gas ETF (NYSE:DUG - News)
PowerShares DB US Dollar Index Bullish Fund ETF (NYSE:UUP - News)
ProShares Ultrashort FTSE/Xinhua China 25 ETF (NYSE:FXP - News)
ProShares UltraShort Russell 2000 ETF (NYSE:TWM - News)
ProShares Short Russell 2000 ETF (NYSE:RWM - News)

Overbought ETF of the Day - ProShares UltraShort Oil & Gas ETF - DUG

Most Oversold

The following ETFs are the most oversold for Friday, November 13, 2009 and are due for a short term reversal. This analysis is based on research published in Larry Connors' new book, High Probaility ETF Trading.

iShares MSCI Japan Index Fund ETF (NYSE:EWJ - News)
iPath S&P Goldman Sachs Crude Oil Trust Index ETN (NYSE:OIL - News)
SPDDR S&P Oil & Gas Exploration & Production ETF (NYSE:XOP - News)
iShares Dow Jones U.S. Oil & Gas Exploration & Production Index Fund ETF (NYSE:IEO - News)
Energy Select Sector SPDRS ETF (NYSE:XLE - News)

United States Oil Fund ETF (NYSE:USO - News)
ProShares Ultra Oil & Gas ETF (NYSE:DIG - News)
iShares Dow Jones U.S. Energy Sector Index Fund ETF (NYSE:IYE - News)
Vanguard Energy ETF (NYSE:VDE - News)
Rydex CurrencyShares Euro Trust ETF (NYSE:FXE - News)

iShares MSCI Brazil Index Fund ETF (NYSE:EWZ - News)
iShares S&P Global Energy Sector Index Fund ETF (NYSE:IXC - News)
PowerShares DB Oil Fund ETF (NYSE:DBO - News)
iShares Goldman Sachs Natural Resources index Fund ETF (NYSE:IGE - News)
PowerShares DB U.S. Dollar Bearish Fund ETF (NYSE:UDN - News)

iShares S&P Latin America 40 Index Fund ETF (NYSE:ILF - News)
PowerShares Wilderhill Clean Energy Portfolio ETF (NYSE:PBW - News)
PowerShares Water Resource Portfolio ETF (NYSE:PHO - News)
iShares Dow Jones U.S. Oil Equipment & Services Index Fund ETF (NYSE:IEZ - News)
Claymore BNY BRIC ETF (NYSE:EEB - News)

ELEMENTS/Rogers International Commodity Index - Total Return ETN (NYSE:RJI - News)
iShares MSCI EAFE Small Cap Index Fund ETF (NYSE:SCZ - News)
SPDR S&P Retail ETF (NYSE:XRT - News)
Oil Service HOLDRS ETF (NYSE:OIH - News)
PowerShares DB Base Metals Fund ETF (NYSE:DBB - News)

Oversold ETF of the Day - iPath S&P Goldman Sachs Crude Oil Trust Index ETN - OIL

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