TradingMarkets 7 ETFs You Need to Know for Monday

Exchange-trading funds with exposure to the financial sector led the ETF market on Friday, a trend that benefited not only financial ETFs but the financials-laden S&P 500, as well. Leveraged short funds took the brunt of a near 300-point day in the Dow. And technology exchange-traded funds, although trading below their 200-day moving averages and increasingly overbought, continued to move higher.

Here are 7 ETFs You Need to Know for Monday

Financial exchange-traded funds regained strength on Friday, with both the ProShares Ultra Financials ETF, UYG (UYG | Quote | Chart | News | PowerRating), and the Select Financial Sector SPDRs, XLF (XLF | Quote | Chart | News | PowerRating) gaining more than 3%.

The Select Technology Sector SPDRs, XLK (XLK | Quote | Chart | News | PowerRating), closed in the green for the fifth consecutive session as the ETF rallied to within one point of its 200-day moving average.

Leveraged short ETFs pulled back dramatically on the last trading day of the week, with both the ProShares UltraShort QQQ fund, QID (QID | Quote | Chart | News | PowerRating), and the ProShares UltraShort S&P 500 fund, SDS (SDS | Quote | Chart | News | PowerRating) lower by more than 4%.

Down for five consecutive trading sessions, the United States Oil Fund, USO (USO | Quote | Chart | News | PowerRating) became even more oversold on Friday as its 2-period RSI dropped closer to single digits.

On the international exchange-traded fund front, traders bid the iShares MSCI Taiwan Index fund, EWT (EWT | Quote | Chart | News | PowerRating), was higher by more than 4% after yesterday's pullback.

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David Penn is Senior Editor at TradingMarkets.com.