ETFs Above 70 RSI: SPY, DIA, QQQQ, RUT, XLF, XHB, IYR, KRE, HYG (Aug 4)

There are a few ETFs trading above 70 on the RSI (relative strength index). ETFs I included below are SPY (S&P 500 SPDRs), QQQQ (Nasdaq 100 Trust), RUT (Russell 2000 Index), DIA (Dow Diamonds Fund ETF), HYG (iShares iBoxx High Yield Corporate Bond) XLF (Financial Select Sector SPDR), KRE (SPDR KBW Regional Banking), IYR (iShares Dow Jones US Real Estate) and XHB (SPDR S&P Homebuilders).

Relative strength could overshoot and/or prices could move higher while strength declines, that would be the negative divergence to look out for. The RSI should also dip below 70 for confirmation. For more information on the RSI (relative strength index) Stockcharts.com and Investopedia have information. Here are chart snapshots you can find at Stockcharts.com. Also watch that 38.2% Fibonacci retracement level on the $SPX at 1,014.

SPY
DIA
QQQQ
RUT
XLF
XHB
IYR
KRE
HYG

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