Ticker Sense takes a look at the current market environment and finds that although the Dow is reaching new highs, exchange traded funds in global markets are not especially overbought.
His model shows most ETFs are not near their theoretical highs, some are even trading at the bottom of their normal ranges. These ETFs include iShares MSCI Emerging Markets (EEM), iShares MSCI Canada (EWC), iShares MSCI Brazil (EWZ) and iShares MSCI South Africa (EZA).
For full disclosure EEM is held in some client accounts.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.