This is a little early, and these ETFs will change until the end of the year, but not that much a since we look at long term indicators.
This selection is based strictly on relative strength index. We computed the RSI values of all ETFs on the market, and then sorted them by the monthly value, which is a long term indicator.
Here they are.
Top 20 most oversold:
The most oversold are: FAZ, MLN, PSQ, SZK. FAZ is a 3X, so we ignore it. MLN is a muni bond ETF (please see our bond ETF tracker live site). PSQ is short QQQQ, and SZK is a short consumer goods.
Top 20 most overbought:
Here the worst offenders are FDN, PNQI, AGQ, and SLV. FDN is an internet index, PNQL is a QQQQ ETF, and AGC/SLV are silver ETFs. Buyer beware!
Keep in mind that there is always a reason why things are overbought or oversold, but in the long term, everything reverts to more 'mean' values.